South African Legislation
Companies Act, 2008
Section 24 stipulates a general rule that company records must be kept for 7 years or longer as specified in other public regulation2.
Tax Administration Act, 2011
Section 29 requires records, books of account, or documents enabling adherence to tax acts to be kept for 5 years following the submission of a tax return, or for 5 years after the relevant tax period2.
Consumer Protection Act, 2008
Section 36 mandates that all records pertaining to promotional competitions must be retained for a period of 3 years2.
Importance of Compliance
Understanding and adhering to the legal requirements for document destruction is crucial for safeguarding businesses against legal repercussions, ensuring privacy, and promoting best practices for secure and effective document disposal8.
Shredding Solutions for Compliance