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IN THE COMPANIES TRIBUNAL OF SOUTH AFRICA, PRETORIA

 

CASE NO: CT007MAY2014

 

In the matter between:-

 

CFA INSTITUTE                                                                                          Applicant

 

And

 

CHARTERED INSTITUTE OF FINANCIAL AND INVESTMENT

ANALYSIS (PTY) LTD                                                                               Respondent

 

Coram: Kganyago M.F

 

Decision handed down on the 17th November 2014

 

DECISION

 

(1]        The applicant in this matter has brought an application in term of section 160(1) and (2) read together with section 11(2) of the Companies Act 71 of 2008 ("the Act"). The applicant is seeking an order in terms of section 160(3) of the Act that the respondent be ordered to amend its name to a name not containing the elements "Chartered, Financial, Analysis and Institution.

 

(2]        The respondent was served with the application at its registered address by the sheriff on the 16/05/2014by affixing the application on the principal door of the business. The applicant has further served the respondent by way of registered mail, which mail was sent on the 16th May 2014 to the responden’ts registered address.

 

(3]        The respondent did not serve or file any opposing papers. The 20 days within which the respondent is required to serve and file opposing papers if any has lapsed. The applicant is now applying for a default order in terms of regulation 153(1) of the Companies Regulations, 2011 ("the Regulations "). The applicant's default application was served on the respondent by the sheriff and also by registered mail.

 

[4]        After perusal of the documents filed, I am satisfied that members of the public are likely to be confused or deceived into believing that a connection exists between the applicant and respondent. Furthermore there is a likelihood that the members of the public are likely to be confused or deceived into believing that the respondent name of Chartered Institute of Financial and Investment Analysts (Pty) Ltd is associated to the Applicant's name of Chartered Financial Analyst Society of South Africa (Pty) Ltd or CFA Institute.

 

[5]        Under the circumstances, in my view the applicant has made a good case for default order to be granted.

 

ORDER

 

In the result I make the following order.

 

[6]        The applicant's application for a default order is granted.

 

[7]        The respondent is directed to change its name to one which does not incorporate the combination of the words Chartered, Financial, Analysts and Institution within 20 days of receipt of this decision.

 

[8]        The respondent is exempted from paying the prescribed fee for filing the notice of amendment at CIPC.

 

 

M F KGANYAGO

MEMBER OF THE COMPANIES TRIBUNAL

 

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