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This article examines when it would be appropriate to hold a former director accountable for the appropriation of corporate opportunities which take place after his resignation from a company. It identifies and discusses various principles which may be deduced from the common-law jurisprudence...
Persistent link: https://www.econbiz.de/10012824941
Both sections 71(3) and 163 of the Companies Act 71 of 2008 are innovative in South African company law in that the former section permits the board of directors to remove a fellow director from office, while the latter section extends the oppression remedy to directors. Previously, under the...
Persistent link: https://www.econbiz.de/10012824976
The Companies Act 71 of 2008 introduced into South African law a provision which for the first time permits the board of directors to remove another director from office in certain instances. This provision is contained in section 71(3). Compared to the equivalent provision in some leading...
Persistent link: https://www.econbiz.de/10012825028