Investors in South African banks are growing increasingly concerned over proposed legislation stripping them of some rights as creditors, fallout from the August collapse of African Bank Investments Ltd. The Banks Amendment Bill would give the administrator of a failed lender the right to sell assets and change capital structures without consulting investors, according to the document, compiled by the country’s National Treasury. If enacted, the proposal would apply any time a financial institution goes into administration. Gavin Wood comments. view article