Nova Property Group Holdings v Cobbett (20815/2014) [2016] ZASCA 63; [2016] 3 All SA 32 (SCA); 2016 (4) SA 317 (SCA) (12 May 2016)

Nova Property Group Holdings v Cobbett (20815/2014) [2016] ZASCA 63; [2016] 3 All SA 32 (SCA); 2016 (4) SA 317 (SCA) (12 May 2016)

The Supreme Court of Appeal held that the interlocutory order dismissing the application to compel discovery was appealable under s 17(1) of the Superior Courts Act, given the conflicting judgments on the interpretation of s 26(2) of the Companies Act and the interests of justice. On the merits, the court found that s 26(2) confers an unqualified right of access to a company's securities register, and the motives of the requester are irrelevant. The right is not subject to the provisions of PAIA, as s 26(7) makes it additional to PAIA rights. The court rejected the Companies' argument that privacy rights of shareholders limit access, noting that the statutory framework provides safeguards...

Citation
[2016] ZASCA 63
Parties
Appellant: Nova Property Group Holdings Ltd; Appellant: Frontier Asset Management & Investments (Pty) Ltd; Appellant: Centro Property Group (Pty) Ltd; Respondent: Julius Peter Cobbett; Respondent: Moneyweb (Pty) Ltd
Court
Supreme Court of Appeal
Jurisdiction
South Africa
Judgment Date
12 May 2016
Case Number
20815/2014
Procedural Posture
Civil Appeal / Appeal From Interlocutory Application (discovery) in Main Application
Outcome
Appeal dismissed with costs, including costs of two counsel.
Judges
Maya, Majiedt, Mbha, Plasket, Kathree-Setiloane
Legal Topics
Companies Act Section 26, Access to Company Records, Discovery Procedure, Interlocutory Orders, Freedom of Expression, Privacy Rights
Commercial and Corporate Civil Procedure Companies Act Section 26 Access to Company Records Discovery Procedure Interlocutory Orders Freedom of Expression Privacy Rights

Case Brief

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Parties

Nova Property Group Holdings Ltd

Appellant

Frontier Asset Management & Investments (Pty) Ltd

Appellant

Centro Property Group (Pty) Ltd

Appellant

Julius Peter Cobbett

Respondent

Moneyweb (Pty) Ltd

Respondent

Procedural Posture

Civil Appeal / Appeal From Interlocutory Application (discovery) in Main Application

Legal Issues

  1. 1 Is the interlocutory order dismissing the application to compel discovery appealable under s 17(1) of the Superior Courts Act?
  2. 2 Does s 26(2) of the Companies Act confer an unqualified right of access to a company's securities register?
  3. 3 Are the motives of the requester relevant to the right of access under s 26(2)?

Ratio Decidendi

The Supreme Court of Appeal held that the interlocutory order dismissing the application to compel discovery was appealable under s 17(1) of the Superior Courts Act, given the conflicting judgments on the interpretation of s 26(2) of the Companies Act and the interests of justice. On the merits, the court found that s 26(2) confers an unqualified right of access to a company's securities register, and the motives of the requester are irrelevant. The right is not subject to the provisions of PAIA, as s 26(7) makes it additional to PAIA rights. The court rejected the Companies' argument that privacy rights of shareholders limit access, noting that the statutory framework provides safeguards...

Court Disposition

Appeal dismissed with costs, including costs of two counsel.

Orders

  • The appeal is dismissed with costs, including the costs of two counsel.