Ann Crotty
3 minute read
12 Jan 2021
7:05 am

Lid to come off SA wage gap

Ann Crotty

If enacted, the changes will require public companies and state-owned entities to disclose the details of the highest and lowest paid employees in the company.

Picture: iStock

The Companies Amendment Bill is expected to make some progress during 2021 after apparently stalling somewhere along the legislative process during 2019 and 2020. Unless watered down before enacted, some of the proposed amendments might prompt a level of restraint so far missing from executive remuneration in South Africa. One of the most significant sections of the bill, and likely to be one of the most contentious, are the proposed changes to Section 30 of the Companies Act relating to ‘Duties to prepare directors’ remuneration report’. If enacted, the changes will require public companies and state-owned entities (SOEs) to disclose...