Home  »  Articles   »   2021 Lions Rugby Tour Under the Spotlight

2021 Lions Rugby Tour Under the Spotlight

September 29, 2020

Department of Trade, Industry and Competition

Comment on the prohibition on the use of certain words and emblems associated with the 2021 British and Irish Lions Rugby Tour of South Africa is sought.

The trade, industry and competition department published the call for comment in Government Gazette 43738.

The call was made in terms of the Merchandise Marks Act.

The plan is for the logos or similar drawings to only be used by the authority of Rugby South Africa.

The notice points out that proprietors of identical or similar marks already in use will not be affected by the envisaged prohibition.

The prohibition sought will also be perpetual and absolute in nature.

Comment is invited within 30 calendar days from the date of publication.

In Gazette 43734, the department announced that the Companies and Intellectual Property Commission will, from 1 October 2020, support Annual Financial Statements (AFS) generated based on Generally Recognized Accounting Principles (GRAP).

According to the notice, from 1 October 2020 until 30 September 2021, State Owned Companies (SOC’s) whose financials are based on the GRAP standard must voluntarily file their GRAP standard based AFS in the XBRL format.

“From 01 October 2021, it will become mandatory for all SOC’s to submit AFS’s in the XBRL format in compliance with the Companies Act, Act 71 of 2008 as amended.”

Meanwhile, in a statement, the department announced that the Broad-Based Black Economic Empowerment (B-BBEE) Commission will host a webinar session on 29 September 2020 at 10h00 with practitioners that are involved in advising, negotiating or drafting of governing documents for B-BBEE ownership deals and structures for alignment with the B-BBEE Act.

The department points out that government and the private sector should work together to improve performance on B-BBEE compliance.

“It is important that B-BBEE ownership deals concluded are fully compliant and free of misrepresentation, undue restrictions or fronting practices as they aim to improve the ownership status of black people in South Africa.”