Tag Archivesliability
SMMEs

The Business Judgement Rule – what directors need to know

By accepting their appointment to the position, directors imply that they will perform their duties to a certain standard, and it is a reasonable assumption that every director will apply his or her particular skills, experience and intelligence to the advantage of the company. Section 76 of the Companies Act No. 71 of 2008 (“the […]

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Directors duties and liability under the new Companies Act

The role of company directors has changed quite dramatically with the inception of the new Companies Act in May this year. In terms of the previous Companies Act 61 of 1973 (the “old Act”), a distinction was drawn between executive and non–executive directors whilst the new Act does not draw any distinction. This means that […]

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