South Africa Case Law

Maynard v Carrick Wealth (Pty) Limited (21243/23)

Maynard v Carrick Wealth (Pty) Limited (21243/23) [2024] ZAWCHC 370 (15 November 2024)

Court

Western Cape High Court, Cape Town

Case number

21243/23

Judge

M W Janisch

The Court held that section 14 of the FAIS Act imposes a statutory duty on financial services providers to initiate and effect debarment proceedings in appropriate circumstances, and that this duty cannot be compromised or waived by private agreement, even by way of a settlement agreement. The initiation of debarment proceedings is not administrative action under PAJA but is subject to legality review. The Applicant failed to establish that the Respondent acted unlawfully in initiating the debarment process, either by virtue of the settlement agreement or due to an ulterior purpose. The Respo…

Source excerpt

• Fais Act Debarment
• Fit And Proper Requirements
• Confidential Information
• Restraint Of Trade
• Settlement Agreement
• Ulterior Purpose

Reynecke v Odinfin (Pty) Ltd (86753/2014)

Reynecke v Odinfin (Pty) Ltd (86753/2014) [2016] ZAGPPHC 486 (21 June 2016)

Court

North Gauteng High Court, Pretoria

Case number

86753/2014

Judge

J W Louw

The High Court held that an unlawful debarment under the FAIS Act could found delictual liability for damages where procedural fairness was denied.

• Fais Act Debarment
• Administrative Action Review
• Wrongfulness In Delict
• Negligence
• Compensation For Unlawful Debarment
• Fais-debarment