1,721,146 research outputs found
Calculation aspects of the European rebalanced basket option using Monte Carlo methods : valuation
Get PDFCITATION: Van der Merwe, C. J. & Conradie, W. J. 2012. Calculation aspects of the European rebalanced basket option using Monte Carlo methods : valuation. Orion, 28(1):1-18, doi:10.5784/28-1-104.The original publication is available at http://orion.journals.ac.zaExtra premiums can be charged to a client to guarantee a minimum payout of a contract on a portfolio that gets rebalanced on a regular basis back to fixed proportions. The valuation of this premium can be changed to that of the pricing of a European put option with underlying rebalanced portfolio. This article finds the most efficient estimators for the value of this path-dependant multi-asset put option using different Monte Carlo methods. With the help of a refined method, computing time of the value decreased significantly. Furthermore, Variance Reduction Techniques and Quasi-Monte Carlo methods delivered more accurate and faster converging estimates as well.http://orion.journals.ac.za/pub/article/view/104Publisher's versio
Should short-term letting be allowed in sectional title schemes?
Get PDFCITATION: Van der Merwe, C. G. 2018. Should short-term letting be allowed in sectional title schemes?. Journal of South African Law / Tydskrif vir die Suid-Afrikaanse Reg, 2018(3):507-522.The original publication is available at https://journals.co.zaShort-term letting of bedrooms and apartments in condominiums for periods shorter than six or three months is not a new phenomenon. It has always been possible to grant tenancies lasting a few months or less. What is new are the digital platforms that are facilitating the commercialisation of such short-term letting. The recent surge in popularity of global accommodation websites such as Airbnb and Stayz enables sectional owners to advertise and market their apartments to holidaymakers all over the world. These opportunities are being seized by apartment owners around South Africa, including premier residential complexes in coastal towns and cities, where there is a burgeoning demand for secure, affordable, self-catering holiday accommodation. Increasing numbers of condominium owners who bought into condominiums for the purpose of investment or as holiday or retirement accommodation are abandoning traditional long-term leasing in favour of private holiday letting. Owner occupiers and even tenants are also joining the party by letting out spare rooms and even couches to supplement their income. An increasing number of sectional owners prefer the high income generated quickly from shortterm letting over the traditional forms of renting out their sections on longer-term leases. The higher income makes it easier for them to cope with any increases in mortgage interest rates and sectional title levies.https://journals.co.za/content/journal/10520/EJC-f51eac067?fromSearch=truePublishers versio
Way of necessity : should blokland ever be left sterile
Get PDFCITATION: Van Der Merwe, C. G. 2008. Way of necessity : should blokland ever be left sterile? Journal of South African Law / Tydskrif vir die Suid-Afrikaanse Reg, 2008(1):142-151.The original publication is available at https://journals.co.za/content/journal/ju_tsarJackson NO v Aventura Ltd decided in the Cape high court and its sequel in the supreme court of appeal, Aventura Ltd v Jackson NO, raise interesting questions about undeveloped mountainous agricultural properties being converted to holiday resorts or private family vacation areas without providing a sufficient exit to a public road. In the present case the dominant land concerned was landlocked or "blokland" - ie enclosed on all sides by neighbouring land without an exit to a public road. According to case law on via necessitatis this is a classic example where the owner of the dominant land would be entitled to a way of necessity to a public road in order to exploit the dominant land to its full potential. This case is, however, complicated by the fact that the property concerned as well as all the surrounding properties have been declared sensitive coastal areas in terms of regulations (reg 1526 of 27 Nov 1998) promulgated under the Environment Conservation Act 73 of 1989, which prohibit the disturbance of vegetation and earthworks in these areas and the construction of a road without the consent of the environmental authorities concerned. Consequently the court was faced with the dilemma of whether to decide the issue on common law principles alone or whether it was competent to take environmental issues into account in its decision to grant or not to grant a way of necessity.Publishers versio
Vonnisbespreking : die magtiging wat vereis word vir strukturele verandering aan 'n deel en die aangrensende gemeenskaplike eiendom in 'n deeltitelskema
Get PDFCITATION: Van der Merwe, C. G. 2016. Vonnisbespreking : die magtiging wat vereis word vir strukturele verandering aan 'n deel en die aangrensende gemeenskaplike eiendom in 'n deeltitelskema. LitNet Akademies, 13(1):479-490.The original publication is available at http://www.litnet.co.zaIn hierdie saak moes die hof uitspraak gee oor ’n regspunt wat nie voldoende deur die Wet
op Deeltitels 95 van 1986 behandel word nie. Die applikante wou twee kombuisvensters in
hul woonstel op die grondvloer van ’n deeltitelkompleks vervang deur groter vensters met
die doel om die invloei van natuurlike lig in die kombuis te verbeter. Weens beswaar deur die
eienaar van die woonstel op die eerste vloer bokant hulle nader die applikante die hof om te
bepaal watter soort magtiging vereis word om die voorgestelde verandering aan te bring. Die
nuutheid van die regsvraag in hierdie saak was dat die Wet op Deeltitels en die
voorgeskrewe bestuurs- en gedragsreëls nie die veranderinge binne woonstelle en aan die
gemeenskaplike mure wat die woonstel omring, behoorlik reguleer nie.In this case a farmhouse was subdivided into two sectional title units in a sectional title scheme that consisted of these two units and an additional six-storey building comprising a further 10 sectional title units. The applicants, the owners of the unit on the ground floor of the farmhouse, wanted to replace the two kitchen windows of the unit with larger windows in order to improve the flow of natural light into the kitchen. When the owner of the unit on the first floor above them objected to this project, the applicants approached the court in order to determine what kind of authority was needed to allow them to proceed with their plans. The court decided that two kinds of authorisation would be sufficient for them to proceed. In the first place the court found that the applicants would be allowed in terms of prescribed conduct rule 4 to effect not only minor alterations to the common property but also significant alterations to the outer part of the boundary wall associated with the unit as intended in this case. In the second place the court held that the intended alterations could also proceed in terms of management rule 33, which deals with luxurious and non-luxurious improvements to the common property for which the cooperation of the body corporate is needed in the form of a unanimous or a special resolution.http://www.litnet.co.za/vonnisbespreking-die-magtiging-wat-vereis-word-vir-strukturele-verandering-aan-n-deel-en-die-aangrensende-gemeenskaplike-eiendom-in-n-deeltitelskema/Publisher's versio
Two-tier governance for mixed-use and large-scale sectional title schemes
Get PDFCITATION: Van Der Merwe, C. G. & Paddock, G. 2008. Two-tier governance for mixed-use and large-scale sectional title schemes. South African Law Journal, 125(3):573-591.The original publication is available at https://journals.co.za/content/journal/ju_saljWith rapidly growing South African urbanization, mixed-use developments are recognized as the most viable utilization of high-density urban space. In specialized sectional title schemes consisting of one or more multi-unit ownership buildings, there is an increasing need to separate the various components of the scheme according to user and to apply the rules of sectional title separately to each component. In a scheme that comprises a commercial component, for example offices and residential units, there is no reason why all the members of the scheme should be responsible for the maintenance of a lift that serves only a particular component. Similarly, owners of commercial units in a mixed-use scheme should not depend on the co-operation of the other owners if they wish to make rules applying to the toilets used by their clients. Moreover, there is no reason why owners of every component of the building or buildings should not have a separate budget to cover their own expenses. Singapore strata title legislation has tried to accommodate these inevitable clashes of interests which ultimately result in disharmonious sectional title communities by introducing a two-tier management structure consisting of a main management body administering general matters and two or more subsidiary management bodies administering the affairs of a particular user group. The aim of this paper is to consider whether this unique system could be adopted as a model for introducing a two-tier governance system in South Africa.Publisers versio
Judicial redress against a body corporate of a sectional title scheme for failure to comply with its maintenance obligations before and after the new sectional title legislation came into operation : discussion of Lyons v The Body Corporate of Skyways 2016 6 SA 405 (WCC)
Get PDFCITATION: Van der Merwe, C. G. 2019. Judicial redress against a body corporate of a sectional title scheme for failure to comply with its maintenance obligations before and after the new sectional title legislation came into operation : discussion of Lyons v The Body Corporate of Skyways 2016 6 SA 405 (WCC). Stellenbosch Law Review, 30(3):434-446.The original publication is available at https://journals.co.zaIn this case an elderly applicant, Mr Lyons, applied to the Western Cape High Court for an interdict obliging the body corporate to repair four of the five elevators in his sectional title scheme which had been out of commission for over two years. As it was common cause that the first two requirements for an interdict were satisfied, the court considered the argument of the body corporate regarding the third requirement, that there were other remedies available namely the convention of a special meeting to discuss the matter and the election of new trustees to compel the engaged elevator service providers to repair the lifts speedily. The court rejected this stance as an inefficient solution to the problem and granted the interdict compelling the body corporate to have the elevators repaired within a period of three months. In the second part of the article, I have shown that Mr Lyons would have been in a better position if he sought relief after the coming into operation on 7 October 2016 of the Community Schemes Ombud Service Act 9 of 2011 (“CSOSA”) and the Sectional Titles Schemes Management Act 8 of 2011 (“STSMA”) and the related Regulations. The CSOSA pertinently makes specific orders available to applicants in the position of Mr Lyons, to force the body corporate to carry out maintenance and repair of the common property. The STSMA and related Regulations oblige the body corporate to ensure that the administrative and reserve funds of bodies corporate contain sufficient money for the maintenance and repair of elevators. In addition, the Regulations oblige the body corporate to prepare a 10-year maintenance, repair and replacement plan for major capital items (including escalators). This plan would ensure that escalators are always kept in good working condition.https://journals.co.za/doi/10.10520/EJC-1b0fd040fcPublishers versio
Comparative survey of the legal challenges faced by mixed-use sectional title (condominium) developments
Get PDFCITATION: Van Der Merwe, C. G. 2018. Comparative survey of the legal challenges faced by mixed-use sectional title (condominium) developments. Journal of South African Law / Tydskrif vir die Suid-Afrikaanse Reg, 2018(1):36-51.The original publication is available at https://journals.co.zaENGLISH ABSTRACT: Over the years mixed-use sectional titles (strata titles, condominium) schemes have become increasingly popular over the world and also in South Africa. A mixeduse sectional titles scheme consists typically of a combination of residential and commercial units, but the term can also apply to the combination of residential units and office units or a combination of residential, commercial and office units.1 The increased popularity of mixed-use residential and commercial schemes2 can be attributed to the increased popularity of residential strata title homes in general. Again, the ability to combine the carefree lifestyle afforded by strata title ownership with the conveniences of in-house shops, offices and restaurants appeals to many house buyers.AFRIKAANSE OPSOMMING: Die toenemende skaarsheid van bekostigbare boupersele in middestede, en die vernuwing van middestede dwarsoor die wêreld, maak gemengde deeltitelontwikkeling ’n aantreklike opsie vir voornemende kopers. Die kopers van besigheids- en kantooreenhede, verkry ’n gesogte lokaliteit in die middestad sowel as ’n aantal potensiële klante in dieselfde gebou. Buiten ’n gesogte middestadlokaliteit, bekom die kopers van residensiële eenhede ook die gerief om moeiteloos inkopies in dieselfde gebou te kan doen en aldaar van professionele dienste gebruik te kan maak.
Die ontwikkelaar moet die bestuursdokumente van die skema sorgvuldig met die nodige regsadvies voorberei ten einde die belange van die eienaars van die verskillende samestellende dele van die skema so goed as moontlik te probeer balanseer en ook voorsiening te maak vir aanpassings by toekomstige veranderende ekonomiese en sosiale omstandighede.
In hierdie bydrae word aangetoon dat die uitdagings wat gemengde deeltitelontwikkelings in Suid- Afrika in die gesig staar, dieselfde is as wat ontwikkelaars in Australië en die Verenigde State van Amerika ondervind. Die bydrae wys die verskillende kwessies uit waaraan aandag gegee moet word by die opstel van die bestuursdokumente van ’n gemengde deeltitelskema. Daar sal oorweeg moet word of die besondere skema deur ’n sentrale bestuursliggaam bestuur moet word en of daar voorsiening gemaak moet word vir afsonderlike subsidiêre bestuursliggame vir elkeen van die samestellende komponente van die gemengde deeltitelskema. Verdere sake wat aandag verdien, is onder andere hoe die koste vir die gesamentlike gebruik van sekere fasiliteite tussen die komponente verdeel moet word; hoe spesiale feestelikhede in die besigheidskomponent gereguleer moet word; die verlening van uitsluitlike voordele aan sommige komponente, byvoorbeeld die reg om mededinging te verbied; watter gebruiksbeperkings ingevoer moet word; die beskikbaarheid van parkeerplekke vir eienaars, hul besoekers, klante en kliënte; universele onderhoudsvereistes vir die hele gebou; versekeringskwessies; en die aanvaarding van geskikte gedragsreëls vir die onderskeie komponente van die betrokke deeltitelskema.https://journals.co.za/content/journal/10520/EJC-c1867afa9?fromSearch=truePublishers versio
'n Herwaardering van die werk van Elise Muller
No full textBibliography: pages 161-168.Hierdie studie het gemik op 'n herwaardering van Elise Muller se bydrae tot die Afrikaanse letterkunde. Hennie Aucamp het met Elise Muller. Verhale en essays 1942-1981, die eerste stap tot herwaardering geneem ten opsigte van Elise Muller en haar prosawerk. So ook het Nel in haar skripsie met waardering gekyk na die bekende en haas onbekende werk van Muller. Hierdie nuwe kyk na die werk van Elise Muller word in die tesis verder gevoer. Dit poog om die onbekende, "ander" Elise Muller op die voorgrond te stel. Ten einde die "ander" Muller te belig, was dit nodig om te let op die tradisionele Muller. 'n Ondersoek na beide Muller se vernuwende en tradisionele bydrae tot die Afrikaanse letterkunde het dit duidelik laat blyk dat sy heel gebalanseerd en genuanseerd te werke gaan met die tradisionele Afrikaner ideologieë
The Complementation of ראה in Biblical Hebrew
Get PDFThesis (DPhil)--Stellenbosch University, 2023.ENGLISH ABSTRACT:
This study is an investigation of the complementation of the verb האר in Biblical Hebrew. The
problem it addresses is the lack of a coherent account of the various complements selected by this
verb, as well as the semantic or pragmatic effects of these various complements.
This investigation begins with a survey of previous lexical studies of the verb האר and establishes
that the verb’s most basic sense is perception with the eyes and that this meaning regularly
extends metaphorically to cognition—that is, understanding or realization. Then, this study
utilizes an eclectic collection of insights from Cognitive Linguistics as the framework for
investigating a data set that includes the 1,303 occurrences of the verb האר in the Hebrew Bible.
The concepts that have shaped this linguistic framework include complementation, embodiment,
intersubjectivity, information state, and sensory perception.
A key feature of the investigation is the grouping and analysis of the verb האר and the complements
it selects within the following categories:
• האר + Object (with or without the object marker תאֵ )
• האר + Ø (no explicit complement)
• האר + יכִּ
(“that”)
• האר + הנֵ הִּ וְ (“and behold”)
• האר + רשֶׁ אֲ
(“how”)
• האר + prepositions (בְ , “in/into;” לעַ , “on/upon,” etc.)
• האר + other particles (interrogatives, etc.)
This investigation yielded several results. First, it determined how the collocation of the verb
האר with various kinds of complements effects meaning. For example, האר + יכִּ constructions
signify a mental perception of a proposition which can even be derived from means other than
eyesight. Second, it determined that the most prototypical construction involving the verb האר in
the Hebrew Bible is האר + Object (50.5% of the total instances) and that its prototypical sense is
the perception of an object or event with one’s eyes. Third, it established various metaphorical
extensions and metonymic paths that move from this sense to others. For example, האר can extend
metaphorically from visual perception with an intentional look to meanings like “inspect” or
“choose.” An example of a metonymic path is see → see and encounter → make an effort to see and
encounter (= visit). Fourth, this study provided insight into unique expressions associated with
the verb האר. For example, “lift up her/his/my eyes” signifies an intentional effort to acquire
knowledge. Fifth, this study considered how the complementation of other BH verbs of sight and
perception compare with the complementation of האר. For example, the other sight verbs occur with
much less frequency and always signify intentional acts of looking. By contrast, האר frequently
denotes the visual stimulation that happens automatically in bodily experience.AFRIKAANSE OPSOMMING: Hierdie studie is ’n ondersoek na die komplementering van die werkwoord האר in Bybelse Hebreeus.
Die probleem wat dit aanspreek, is die gebrek aan ’n samehangende weergawe van die verskillende
komplemente wat deur hierdie werkwoord geselekteer word, sowel as die semantiese of pragmatiese
effek van hierdie verskillende geselekteerde komplemente.
Hierdie ondersoek begin met ’n oorsig van vorige leksikale studies van die werkwoord האר en stel
vas dat die werkwoord se mees basiese betekenis “persepsie met die oë” is en dat hierdie betekenis
gereeld metafories uitgebrei word tot kognisie - dit is begrip, bewustheid of besef van x. Hierdie
studie gebruik dan ’n eklektiese versameling van insigte uit Kognitiewe Linguistiek as raamwerk vir
die ondersoek van die 1303 gevalle van die werkwoord האר in die Hebreeuse Bybel. Die volgende
konsepte het hierdie linguistiese raamwerk gevorm: komplementering, beliggaming,
intersubjektiwiteit, inligtingtoestand en sensoriese persepsie.
’n Sleutelkenmerk van die ondersoek is die groepering en ontleding van die werkwoord האר en die
komplemente wat dit selekteer in terme van die volgende kategorieë:
• האר + Voorwerp (met of sonder die voorwerpmerker תאֵ )
• האר + Ø (geen eksplisiete komplement nie)
• האר + יכִּ
(“dit”)
• האר + הנֵ הִּ וְ (“en kyk”)
• האר + רשֶׁ אֲ
(“hoe”)
• האר + voorsetsels (בְ , “in;” לעַ , “aan/op,” ens.)
• האר + ander partikels (vraagwoorde, ens.)
Hierdie ondersoek het verskeie resultate opgelewer. Eerstens het dit vasgestel hoe die samestelling
van die werkwoord האר met verskillende soorte komplemente die betekenis daarvan beïnvloed. Daar is
tot die gevolgtrekking gekom dat sekere soorte konstruksies vorm-betekenis-pare verteenwoordig.
Byvoorbeeld, ’n האר + יכִּ -konstruksies verwys na die verstandelike persepsie van ’n proposisie
wat nie noodwendig deur middel van sig verkry is nie. Tweedens het dit bepaal dat die mees
prototipiese konstruksie waarby die werkwoord
האר in die Hebreeuse Bybel betrokke is, האר + Voorwerp (50,5% van die totale gevalle) is, en dat
die prototipiese betekenis daarvan die waarneming van 'n voorwerp of gebeurtenis met ’n mens se oë
is. Derdens het dit verskillende metaforiese uitbreidings en metonimiese paaie geïdentifiseer wat
die verskuiwing van hierdie betekenis na ander betekenisse verduidelik.
Byvoorbeeld, האר kan metafories uitbrei van visuele waarneming na ’n opsetlike kyk met betekenisse
soos “inspekteer” of "kies." ’n Voorbeeld van 'n metonimiese pad is → sien en teëkom → moeite doen
om te sien en te ontmoet (= besoek). Vierdens het hierdie studie insig gegee in unieke uitdrukkings
soos “sien met jou/my oë” of “lig haar/sy/my oë op,” sowel as in ongewone gebruike wat die
werkwoord האר. Vyfdens, het hierdie studie die komplementering van ander BH-werkwoorde van sig en
waarneming vergelyk met die komplementering van האר. Die ander werkwoorde van sig kom byvoorbeeld
baie minder voor en dui altyd op opsetlike handelinge van kyk. Daarteenoor dui האר dikwels die
visuele stimulasie aan wat outomaties tydense ’n liggaamlike ervaring plaasvind.Doctora
Digital communication, democracy and active citizen engagement in South Africa
No full textThis article argues that in the rapidly changing world of today, it is strongly recommended that governments keep up with trends and that they develop up-to-date policies for the constructive use of information and communication technology (ICT) platforms. These policies should be informed by the needs of their citizens and aligned with the prescripts and universal values entrenched in international law. It is argued that providing access to technologies that enhance communication would provide citizens with a
voice in matters ranging from national politics to local service delivery, thereby strengthening democratic practices, provided that people also feel that their voices are being heard. This article looks at examples of developments that have taken place in South Africa recently and touches upon the importance of using digital communication to promote political and civic participation and activism.
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