Advanced Short Course in Business Rescue Practice WELCOME AND INTRODUCTION TO LEGAL EDUCATION AND DEVELOPMENT (L.E.A.D) LEAD, a division of the Law Society of South Africa (LSSA), understands the needs of a modern-day law practice. A variety of methods to access high-quality learning activities are offered to attorneys, candidate attorneys and support staff. These include a practical law school and a range of courses, certificate and diploma programmes, seminars and workshops which are conducted at training centres, online or via distance learning. The course is a joint initiative between the Law Society of South Africa (LSSA) and the University of South Africa (UNISA). Course registration and execution will be channelled through the online distance education facility of the LSSA division Legal Education and Development (LEAD). This online facility is called e-leader. ACCREDITATION OF BUSINESS RESCUE PRACTITIONERS The process for accreditation of Business Rescue Practitioners is still under way and licensing will not be automatic or guaranteed. Nonetheless, the Companies and Intellectual Property Commission regards the completion of a relevant training course/sufficient BACKGROUND ON BUSINESS RESCUE In the past, business rehabilitation mechanisms have not worked well in South Africa. Fortunately, Chapter 6 of the new Companies Act 71 of 2008 introduces a knowledge of business rescue as an important factor when considering an application for registration. Other factors include experience of business management and sound professional standing. Working as a team member with a registered business rescue practitioner can count in an applicant s favour. more modern and flexible business rescue procedure. The new Act requires the appointment of business rescue practitioners to oversee the rescue procedures. Having a successful and effective rescue procedure is of great importance to the economic growth and stability of the country. Key to this will be ensuring that business rescue practitioners have the necessary skills and qualifications to undertake the business rescue. PURPOSE OF THE COURSE The purpose of the course is for candidates to explore the opportunities of business rescue as a possible new area of work. Candidates are equipped with comprehensive knowledge on the practical application of business rescue proceedings in terms of Chapter 6 of the Companies Act, 2008. 2012 Lifelong learning towards a just society Legal Education and Development (L.E.A.D) Tel: +27 (0)12 441 4600 (switchboard) Website: www.lssalead.org.za Address: PO Box 27167 Sunnyside 0132 Docex 227 Pretoria Old Main Building, Unisa Sunnyside Campus, 145 Mears Street, Sunnyside, Pretoria Law Society of South Africa (LSSA) Tel: +27 (0)12 366 8800 Fax: +27 (0)12 362 0969 Email: LSSA@LSSA.org.za Website: www.lssa.org.za Address: PO Box 36626 Menlo Park 0102 Docex 82 Pretoria 304 Brooks Street, Menlo Park, Pretoria Page 1 of 3
After completing the course, candidates will be able to 1. Explain the concept and role of business rescue; 2. Explain in detail the relationship between corporate governance and business rescue; 3. Draw up and implement strategic plans/turnaround strategies for companies in distress; and 4. Provide advice to attorneys, accountants and other professionals appointed as business rescue practitioners. COURSE DURATION Six months WHO MAY REGISTER FOR THE COURSE? Professional people who are interested in understanding the principles of business rescue. This includes lawyers, legal advisors, auditors, financial advisors, bank decision-makers, investors, businesspersons, managers and trade union representatives. ADMISSION REQUIREMENTS An LLB or bachelor s degree. Alternatively, an equivalent South African National Qualifications Framework (NQF) level 6 qualification. SYLLABUS There will be one module, divided into five study units. STUDY UNIT 1: Provisions of the Companies Act, 2008 regarding commencement of business rescue proceedings: Requirements Procedure General consequences STUDY UNIT 2: Provisions of the Companies Act, 2008 regarding the appointment and functions of a business rescue practitioner: Procedure for appointment Qualifications for appointment Removal Duties and personal liability STUDY UNIT 3: Important principles of labour law Prescribed procedure for retrenchments and other dismissals Cost implications of retrenchments Note: The Companies Act, 2008 specifically provides that all employees continue to be employed on the same terms and conditions as before commencement of business-rescue proceedings, and the practitioner may not suspend or apply to court for termination of these contracts in the way that he/she is authorised to do with other contracts of the company. The normal prescribed procedure and requirements of the Labour Relations Act must, therefore, be followed should retrenchments be necessary. STUDY UNIT 4: Important principles of the law of contract The power of the practitioner to suspend, or to apply for cancellation of, contractual obligations of the company. STUDY UNIT 5: Basic principles of financial management Although a business rescue practitioner who is a legal practitioner will have to use the professional services of an accountant or auditor in the preparation of the rescue plan, this study unit will explain how to read and understand the financial statements of a company in the initial stages. It will also show how to determine whether the company is in financial distress, and whether there is reasonable prospect of a rescue. METHOD OF STUDY As the majority of the course will be studied online, it is required that candidates have access to an email address and the Internet. 1. Candidates are provided with a study guide to work through on their own. 2. Three tutorials and two formative assessments (assignments) will be made available online via LEAD s e-learning platform (e-leader). This will enable candidates to access the electronic distance education facilities in order to download study material and submit assignments. 3. Candidates will have to submit two assignments online and write an open-book examination. The examination paper will be provided electronically to candidates who must then submit their answers to the examination 24 hours later, also electronically. 4. Workshops will be arranged in Gauteng, Cape Town and Durban, provided there is sufficient interest in these areas to make it financially feasible. 5. Formative assessment and examination admission will comply with UNISA s formative assessment rules and policies. 6. The language medium is English. OTHER COURSE DETAILS Total credits: 12 Credits South African National Qualifications Framework (NQF): Level 8 LECTURERS Dr Michael Lehloenya Senior Lecturer in Corporate Law (Course leader and lecturing in Corporate Law) UNISA Qualifications: BA (Law) LLB (Lesotho) LLM (Pret) LLD (UFS) Courses taught at UNISA: Advanced Corporate Procedures; Corporate Procedures; Entrepreneurial Law; Commercial Law; Company Law Fields of specialisation: Corporate Law, and International Trade Law Professor Anneli Loubser Professor in Corporate Law (Lecturing on the Companies Act, 2008) UNISA Qualifications: BA LLB (Pret) LLM LLD(Unisa) Thesis title Some comparative aspects of corporate rescue in South African company law. Admitted attorney, notary and conveyancer Courses taught at UNISA: Corporate Law Fields of specialisation: Corporate Law and Insolvency Law Page 2 of 3
Professor Mpfari Budeli Associate Professor in Labour Law (Lecturing on Labour Law) UNISA Qualifications: LLB LLM (Unin) PhD (UCT) Courses taught: Advanced Labour Law; Collective Labour Law; Labour Law; Occupational Health and Safety Law Field of specialisation: Labour Law FEE STRUCTURE (VAT INCLUSIVE) Candidate Total Fees Amount payable on Balance payable registration before 1 April 2012 Practising attorneys and R4 855 R2 500 R2 355 candidate attorneys Other R6 200 R3 600 R2 600 Sapna Galal Lecturing on the Financial Module Qualification: CA (SA) CERTIFICATE Upon successful completion of the course and payment of the full tuition fee, a certificate will be issued jointly by UNISA and LEAD. HOW TO APPLY? 1. Please complete the enrolment contract and email it to bettie@lssalead.org.za together with a copy of your identity document/passport; a copy of your highest degree obtained; proof of payment; and short curriculum vitae. 2. Note that for communication purposes, it is compulsory to supply us with all your contact details i.e. e-mail address, landline, fax and a cell phone number. We will be unable to confirm a registration without an e-mail address. 3. If you do not receive confirmation of registration from LEAD within five business days, please immediately follow-up with Bettie Lubbe on bettie@lssalead.org.za. CLOSING DATE Payment must be made upfront by cheque, credit card or direct deposit. No registration will be confirmed if the proof of payment has not been received. CANCELLATION PROCEDURE A candidate will only qualify for a refund should he/she cancel his/her attendance in writing before commencement of the course and before receiving material, subject to deduction of a cancellation fee of R500. Should a participant discontinue his/her training prior to the end of the course, he/she would be responsible for the full tuition fee The only exceptions are if the reasons for cancellation are one of the following: Death of a close family member (death certificate should be submitted); Severe medical condition which results in the candidate no longer being able to continue with the course (medical certificate should be submitted); All refunds must be claimed in writing not more than 30 business days after cancellation. Failure to claim a refund within 30 business days from cancellation will result in forfeiture of the refund. LSSA/UNISA has the right to terminate a student s participation should the course fee not be paid as required in which case the learner would still be liable for payment of the full course fee. PLEASE NOTE LEAD reserves the right to cancel a learning activity should the number of delegates not justify the costs involved. Registered delegates will be given reasonable notice of cancellation. TERMS AND CONDITIONS OF REGISTRATION Each LEAD learning activity (seminar, workshop, course etc.) has different terms and conditions of registration. Please refer to the website (www. LSSALEAD.org.za) for more details on the terms and conditions specific to this learning activity or contact LEAD on 012 441 4600. Registration for the first semester closes 31 January 2012. The study guide will be posted to you after the closing date. ENQUIRIES For more information and registration for this offering, please consult the LEAD website or contact Bettie Lubbe at LEAD: bettie@lssalead.org.za Tel: +27(0)12 441 4670 Page 3 of 3
ADVANCED SHORT COURSE IN BUSINESS RESCUE PRACTICE CONTRACT OF ENROLMENT FORM Please complete the form below and email it together with the following documents to bettie@lssalead.org.za. Please use only this address. DOCUMENTS REQUIRED A copy of your identity document/passport A short curriculum vitae A copy of your highest degree obtained Proof of payment CANDIDATE S DETAILS Surname: Full names: Date of birth: ID number: Title: Race: (optional, but assists in assessing trends in the profession) Postal address (home). Study guide will be sent to this address unless otherwise indicated: Residential address (home): Tel no (w): ( ) Tel no (h): ( ) Fax no (h): ( ) Cell no (h): ( ) E-mail: Firm/Company: Occupation: Qualifications: Where did you hear about the course? SMS Word of mouth De Rebus Newspaper E-mail Other EMPLOYER DETAILS (Please complete only if the candidate (learner) is sponsored by the employer Firm/Company Name: Tel: ( ) Fax: ( ) Contact Person: Job Title Postal Address: Physical Address: I, (the employer s authorised signatory) hereby declare the above information to be correct. I accept full responsibility for fees payable to the Law Society of South Africa for the above-mentioned learner and course. EMPLOYER SIGNATURE: LEAD reserves the right to cancel a learning activity should the number of delegates not justify the costs involved. Registered delegates will be given reasonable notice of cancellation. TERMS AND CONDITIONS OF REGISTRATION Each LEAD learning activity (seminar, workshop, course etc.) has different terms and conditions of registration. Please refer to the website (www.lssalead.org.za) for more details on the terms and conditions specific to this learning activity or contact LEAD on 012 441 4600. IMPORTANT ENQUIRIES OPEN ON 3 JANUARY 2012 REGISTRATION CLOSES 31 JANUARY 2012 Contact Bettie Lubbe at LEAD. bettie@lssalead.org.za Tel +27(0)12 441 4670 Page 1 of 2
ADVANCED SHORT COURSE IN BUSINESS RESCUE PRACTICE (CONTRACT OF ENROLMENT FORM CONTINUED) NAME OF CANDI PAYMENT OPTIONS Candidate Full Price Amount payable on registration (deposit) Balance Payable before 1 April Practising attorney and candidate attorney R4 855 R2 500 R2 355 Other R6 200 R3 600 R2 600 Full fee Payment plan see deposit payable on registration Payment by Credit Card: by Employer Candidate Amount: R Budget facility: No Yes Number of months: Master Card Visa Diners Club Expiry date: M M Y Y Y Y Card Number: Name of card holder: SIGNATURE: For security reasons, credit card payments must be accompanied by photocopies of both sides of the card. Payment by Electronic Funds Transfer (EFT): by Employer Candidate Amount: R Bank: First National Bank (FNB) Branch: Pretoria Branch code: 251445 Account Holder: Law Society of South Africa Account Number: 62009641079 Account Ref: (area code and telephone number; surname; name OR firm name; name of programme) NB please provide all the required details to ensure prompt registration. Payment by cheque: by Employer Candidate Amount: R Cheques must be made payable to Law Society of South Africa and forwarded to LEAD Business Rescue, PO Box 27167, Sunnyside, 0132 or Docex 227, Pretoria NAME: SIGNATURE: CANCELLATION 1. A candidate will qualify for a refund only if he/she cancel his/her attendance in writing before commencement of the course and before receiving material, subject to deduction of a cancellation fee of R500. 2. Should a participant discontinue his/her training prior to the end of the course, he/she will be responsible for the full tuition fee The only exceptions are if the reasons for cancellation are one of the following: a. Death of a close family member (death certificate should be submitted); b. Severe medical condition which results in the candidate no longer being able to continue with the course (medical certificate should be submitted); 3. All refunds must be claimed in writing not more than 30 business days after cancellation. Failure to claim a refund within 30 business days from cancellation will result in forfeiture of the refund. 4. LSSA / UNISA has the right to terminate a student s participation should the course fee not be paid as required in which case the learner will still be liable for payment of the full course fee. 5. Cancellations must be done in writing and submitted either by fax 086 743 1942 or e-mail bettie@lssalead.org.za. General 1. I agree that having registered for the Advanced Short Course in Business Rescue I am liable for the full course fee. 2. I am familiar with the Advanced Short Course in Business Rescue course outcomes, content and fully comprehend the specifics explained in this document. 3. I acknowledge that payment needs to be made before any material will be mailed to me. 4. I accept that a certificate will be issued only if I comply with the academic and financial requirements. 5. I acknowledge that I have read and understood the above, and hereby, sign as proof. I hereby agree to abide by all the terms conditions relating to the Business Rescue Practice course as described in the brochure and contract of enrolment form. CANDIDATE S SIGNATURE: Page 2 of 2