Public and State-Owned Company's Next AGM Just Got New Rules
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The Companies and Intellectual Property Commission (CIPC) issued Notice 35 of 2026 on 8 July 2026, giving formal guidance on how sections 30A and 30B of the Companies Amendment Act, 2024 (Act 16 of 2024) work in practice. Here is what you need to know, clearly.
Who does this apply to?
Sections 30A and 30B apply to all public companies and state-owned companies. If your client falls into either of these categories, this is relevant to them now.
What are they required to do?
Section 30A requires public and state-owned companies to prepare a remuneration policy and present it for shareholder approval at their annual general meeting (AGM) by ordinary resolution. If shareholders do not approve it, the company must present the policy again at the next AGM or at a special shareholders meeting called for that purpose.
Section 30B adds a second requirement. Each year, the company must also prepare a remuneration report covering the previous financial year. This report must be presented and approved at the AGM as well.
Both requirements work together, and CIPC has confirmed that section 30B follows the same effective date rules as section 30A.
When did this kick in?
Both sections became effective on 22 May 2026, the date they were published in the Government Gazette via Proclamation Notice 313 of 2026. There are no transitional arrangements.
The practical rule on AGM timing
CIPC has clarified two scenarios that matter:
If an AGM takes place after 22 May 2026 but was formally convened by a valid notice sent before 22 May 2026, sections 30A and 30B do not apply to that meeting. The law operates prospectively, so it cannot apply to a process that was already lawfully underway before the law came into effect.
If an AGM takes place after 22 May 2026 and no valid notice had been sent before that date, sections 30A and 30B apply fully. The company must have a remuneration policy and a remuneration report ready for shareholder approval.
What you should do now
If you advise public companies or state-owned companies, check the status of their next AGM immediately. Ask: was a formal notice sent before 22 May 2026? If not, the company needs a remuneration policy and a remuneration report in place before that AGM proceeds. If they do not have these documents ready, help them prepare or refer them to the right governance specialist.
As covered in CIBA's earlier breakdown of the 2024 Companies Act amendments, the remuneration disclosure requirements have been building since the amendment was signed. Sections 30A and 30B are now live, and CIPC has made clear there is no grace period.
This is the kind of update your clients will not find themselves. When you flag it proactively, you are not just doing compliance. You are doing advisory work, and that is worth more.