Day: October 31, 2021

The Duties of a Director & the Business Judgment Rule in terms of the Companies Act 71 of 2008

Section 76(3) of the Companies Act 71 of 2008 (the Act) details the duties of directors (when acting in that capacity) to act in good faith and for a proper purpose; in the best interests of the company and with the requisite degree of care, skill and diligence. In determining whether a director has breached …

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Relief Afforded to a Shareholder or Director from Oppressive or Prejudicial Conduct

South African Company law provides remedies to shareholders and directors for oppressive corporate conduct. Section 163 of the Companies Act 71 of 2008 (the Act) provides: ‘163(1) A shareholder or a director of a company may apply to a court for relief if-(a) any act or omission of the company, or a related person, has …

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