26.1 INTRODUCTION
The new companies act brings in an entirely new concept in that under certain conditions a private company can become regulated. In order to understand this concept, there are some terms we need to understand viz. fundamental transaction and affected transaction. This section is aimed at company secretarial practitioners who handle company secretarial work for private companies. The Companies Act 2008 is quite different to the previous act in regard to regulated companies and affected transactions in that a private company can now fall within the definition of a regulated company resulting in additional administrative requirements. There is confusion as many practitioners don’t know about these requirements and in the case of many smaller companies there is probably no compliance.