In accordance with the provisions of Article 55 (2) (b) (3) read together with Article 85 (1) of the Transitional Constitution of the Republic of South Sudan, the National Legislative Assembly, with assent of the President of the Republic of South Sudan, hereby enacts the following:
1. Title And Commencement
This Act shall be cited as “The Companies Act, 2012” and shall come into force on the date of its signature by the President.
2. Repeal And Saving
1. The Companies Act, 2003 is hereby repealed, provided that all actions taken or orders issued in accordance with the repealed law shall continue to operate till they are repealed or amended in accordance with the provisions of this Act.
2. Any other law governing the provisions of this Act shall cease to operate in South Sudan provided that actions taken, proceedings, orders, regulations and all actions taken or made thereunder, except to the extent they are cancelled by or are otherwise inconsistent with the provisions of this Act, shall remain in force or effect until they repealed or amended in accordance with the provisions of this Act.
The purpose of this Act is to provide for, and to consolidate the law relating to incorporation, regulation and voluntary winding up of companies and to make provisions for other related matters.