The rights granted to trade unions under the Companies Act 71 of 2008

The Companies Act 71 of 20081 was assented to by the President on 9 April 2009 and entered into force on 1 May 2011. Although trade unions played some role in the operation of businesses prior to the Companies Act, this act grants trade unions far more rights. Some of the rights granted to trade unions include restraining a company from any practices that are inconsistent with the provisions of the Companies Act, and the right to receive notice, together with all shareholders, of the granting of financial assistance or loans to directors, for example.