Declaration Of Assets And Liabilities for South Africa

Declaration Of Assets And Liabilities Template for South Africa

A comprehensive legal document used in South Africa for declaring an individual's or entity's complete financial position, including all assets owned and liabilities owed. This declaration is governed by various South African legislative frameworks including the Companies Act, Insolvency Act, and specific regulatory requirements depending on its purpose. The document serves as a sworn statement of financial status and is commonly used in contexts such as public office appointments, bankruptcy proceedings, divorce cases, or corporate governance compliance.

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What is a Declaration Of Assets And Liabilities?

A Declaration of Assets and Liabilities is a fundamental document in South African legal and financial practice, required in various contexts including public service appointments, bankruptcy proceedings, divorce settlements, and corporate governance compliance. The declaration provides a comprehensive snapshot of an individual's or entity's financial position, listing all assets (both movable and immovable) and all liabilities (current and long-term). This document is particularly important in South Africa due to strict regulatory requirements around financial disclosure, especially in public sector appointments and corporate governance. The declaration must comply with various legislative requirements including the Companies Act 71 of 2008, the Public Service Act, and the Financial Intelligence Centre Act 38 of 2001, among others. It serves as a sworn statement and legal record, often requiring certification by a Commissioner of Oaths.

What sections should be included in a Declaration Of Assets And Liabilities?

1. Declaration Details: Identifies the declarant and includes the date and purpose of declaration

2. Sworn Statement: Formal statement confirming the truth and accuracy of the declaration

3. Personal Information: Declarant's full details including ID number, address, and occupation

4. Summary of Net Worth: Overview showing total assets, total liabilities, and net worth calculation

5. Fixed Property: Details of all real estate owned, including property descriptions and valuations

6. Movable Assets: List of vehicles, furniture, equipment, and other physical assets

7. Financial Assets: Bank accounts, investments, shares, pension funds, and other financial instruments

8. Business Interests: Details of ownership in businesses, partnerships, and companies

9. Current Liabilities: All current debts including credit cards, loans, and accounts payable

10. Long-term Liabilities: Mortgages, long-term loans, and other extended payment obligations

11. Certification: Final declaration of accuracy and completeness with signature

What sections are optional to include in a Declaration Of Assets And Liabilities?

1. Contingent Liabilities: Used when there are potential future obligations or guarantees given

2. Trust Interests: Required when the declarant has interests in or control over trusts

3. Foreign Assets and Liabilities: Needed when the declarant has international financial interests

4. Income Sources: Required for public office declarations or when income verification is needed

5. Recent Disposals: Details of recently sold or transferred assets, particularly relevant in insolvency cases

6. Dependent Information: Required when declaration affects or includes family members' interests

7. Security Interests: Used when assets are used as collateral or security for debts

What schedules should be included in a Declaration Of Assets And Liabilities?

1. Schedule A - Detailed Property Register: Comprehensive listing of all real estate with title deed numbers and valuations

2. Schedule B - Vehicle Register: Detailed list of all vehicles including registration numbers and values

3. Schedule C - Investment Portfolio: Detailed breakdown of all investments including account numbers and current values

4. Schedule D - Business Interests Register: Detailed information about business ownerships including registration numbers

5. Schedule E - Debt Schedule: Comprehensive list of all debts with account numbers and current balances

6. Appendix 1 - Supporting Documents: List of attached documents supporting asset and liability values

7. Appendix 2 - Valuation Certificates: Professional valuations of major assets where applicable

8. Appendix 3 - Bank Statements: Recent bank statements confirming account balances

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

South Africa

Publisher

Genie AI

Document Type

Declaration Form

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Government and Public Sector

Financial Services

Legal Services

Corporate Services

Banking

Public Administration

Non-Profit Organizations

Education

Healthcare

Mining and Resources

State-Owned Enterprises

Relevant Teams

Legal

Compliance

Finance

Corporate Governance

Risk Management

Corporate Affairs

Treasury

Internal Audit

Company Secretariat

Ethics Office

Relevant Roles

Chief Financial Officer

Company Secretary

Public Officer

Government Official

Director

Trustee

Insolvency Practitioner

Corporate Governance Officer

Compliance Officer

Risk Manager

Financial Manager

Legal Counsel

Public Service Employee

Executive Director

Non-Executive Director

Corporate Affairs Manager

Ethics Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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