I need to see real growth in metrics like customer acquisition and trading volume before making a deeper commitment. From what I can tell, the news about EDXM will only be positive for Coinbase if it helps to expand the pie for the crypto industry as a whole. That's right -- they think these 10 stocks are even better buys. Independent nature of EDXM would also restrain the firm from the possibility of conflicts of interest. EDXM needed to prove its utility to stay relevant within the crypto space though. For now, I'm taking a wait-and-see backed crypto exchange with Coinbase. Meanwhile, the EDX exchange would work to accommodate both private and institutional investors.
The site was a single story structure which had been demarcated as Shop 1 and Shop 2, but the applicant in that case was awarded a second licence. Thus its decision in this application was arbitrary, capricious and irrational. According to the Board the entire building in 11 Nasik Road, Merebank, irrespective of its separate floors and separate entrances, constitutes licensed premises.
The only exception is created by reg 2 , where it is in respect of an application by an existing site operator or by reg 3 in respect of the applicants who are not associated with the existing site operator. Regulation 3 goes on further to say that the Board may grant the application in respect of such premises, which gives it the power to exercise its discretion whether to grant or refuse the application.
This takes me to the consideration of the submissions made by the various parties herein. When the veil is pierced, the separate legal personality of the company or CC falls away. The rights and liabilities of the company are treated as those of its shareholders, directors and members in their personal capacity. The piercing of the corporate veil occurs if the shareholders are improperly using the separate legal personality of the juristic entity.
The piercing of the veil is an exceptional remedy. In this case the court applied the section as the member of the CC had ignored the juristic nature of the CC whenever it suited him. Therefore the piercing of the veil can only occur where there is unbecoming conduct from the members of the CC.
The Board considered the facts which prima facie appear to be an attempt at piercing the corporate veil. However, one has to consider the factors that need to be considered in the interpretation of reg 3. Review in terms of PAJA  The general powers of the court to interfere with the exercise of a discretion in the administrative decision are set out in s 6 2 of PAJA. In determining the reasonableness of the decision the court has to consider the nature of the decision; the identity and expertise of the decision maker; the range of factors relevant to the decision; the nature of the competing interests involved and the impact of the decision on the lives and well-being of those affected.
Shrikumar acted in his personal capacity to sign the lease as a majority member of Dilvir Investments. This factor in my opinion compromises the separate legal personality of the applicant. My view is that the entire provisions of reg should be read conjunctively to give effect to the intention of the legislature and the purpose of the regulation. The interpretation advanced by the applicant is in conflict with the purpose of the Act and the Regulations.
It is trite that where there is concurrent legislative competency and the National and Provincial Acts overlap the provisions of the Act must be read in the way that best reflects the overall national objectives in a manner compliant with the objectives of the Constitution. The legislation controls the mushrooming of such industries due to its socio-economic impact on the population.
The fact that it requires that there be a primary business before the licence is granted is indicative of this strict regulation. Though the Board has a discretion in terms of reg 3 , the exercise thereof is conditional upon the applicant not being associated with any existing licence holder on the same premises. The objective highlighted by s 26 of the National Act, is relevant to the way the Board exercises its discretion, being limiting the scourge of poverty caused by gambling.
I am quite convinced that the applicant and River Palace Tattersalls are inextricably linked to one another. Though the applicant, Dilvir CC and River Palace Tattersalls are separate legal entities, the Board has shown that the association between the entities as well as the association between the members of the entities would be in breach of reg The applicant failed to show that the Board acted unreasonably, with mala fide and irrationally.
Section 54 2 provides that after considering the provisions of subsection 1 must refuse application…if it appears that approving the application would result in the applicant alike or in conjunction with a related person, achieving marketing power. These provisions affirm that a restrictive interpretation be given to the provisions of reg 3.
The objective test is applied to discern if the administrative action is reasonable or not. The main issue being whether there is an association between the applicant and the existing licensee. The applicant relies on the recommendation by the senior licencing registration officers, who recommended the granting of the application at the discretion of the Board My emphasis.
The licensee operates on the ground floor of the building while the applicant operates on the first floor of the building. Therefore, the provisions of Regulation 3 of the KZN Gaming and Betting Regulations do not prohibit the granting of the licence to the applicant but requires a discretion of the Board whether to approve the application or not.
CCTV system is required in the gaming area and must be reflected on the floor plan. Regulation 3 contemplates more than one site being granted a licence within the same premises, however, that is not the only consideration that has to be taken into account by the Board.
Having considered all the above it is my view that the Board did not misconstrue the provisions of reg nor did it make an error of law in so far as the interpretation of the provisions of reg 3 is concerned. South Africa 14 days itinerary: Complete South Africa Trip Itinerary in 2 Weeks Hluhluwe-Imfolozi Park is the oldest proclaimed game reserve in South Africa and one of the few reserves in the KwaZulu Natal region where you can hope to spot lions, leopards, buffalo, rhinos, and elephants.
The park is also one of the closest game reserves to Durban, making it popular among vacationers staying in the seaside metropolis. As a last minute decision on a long weekend we weren't so sure it was going to be a comfy stay but the units were really clean and comfortable and we'd have no problem going back there again. The park is in a good condition and being maintained, which is also good to see.
Brendon Funnell — Google review Such a great, great beautiful place. Saw lots of animals before we got to our cottage, this huge beautiful girrafe was standing right in the middle of the road. You definitely have to go there, it's unlike those curated tourist trips.
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Nov 5, · KwaZulu-Natal Gambling and Betting Board staff have vowed to prolong their strike until management meets their demands of salary increments and bonuses. More than 30 employees downed tools and. 1 KwaZulu-Natal Gaming and Betting Board reviews. A free inside look at company reviews and salaries posted anonymously by employees. ®Kw,..c,.-N4,+c.1 GAMING S. BETTING HOARD. KWAZULU-NATAL GAMING AND BETTING BOARD. NOTICE OF PUBLIC HEARINGS FOR APPLICATIONS RECEIVED. .