The Big Catch: They’ve resigned. Can they compete with my company?
So they’ve resigned – now what? Can the fiduciary duties as a director of a company extend post-resignation, and if so, to what extent? Are...
Tag: directors
Piercing the corporate veil and your remedies
An important legal principle exists that few stakeholders consider or understand and allows for shareholders and directors who use the company structure to hide their...
Deathly negligence and jail time for doctors, engineers and directors
A gynaecologist, practising in Witbank, recently received a five-year direct imprisonment sentence for negligently causing the death of a woman in labour. The sentence may...
Delinquent directors and the shareholder – Director conundrum
Introduction
The Companies Act[1] contemplates two distinct sets of instances in which a person may be declared delinquent, alternatively placed under probation. The wording of section...
Deal or no deal? Nine questions to ask when doing an M&A deal
In South Africa’s highly regulated corporate environment, anyone wanting to implement a transaction will have to keep their wits about them in making sure that...
The liability of directors in cyberspace
Cyber risks are evolving on a near daily basis posing countless threats to companies, and accordingly, directors need to stay abreast of legal developments to...
Knock knock knocking on jail’s door – Cartel conduct
The amendments to the Competition Act, 1998, which introduce criminal liability for cartel conduct, came into effect on 1 May 2016. The amendments introduced criminal...
Can directors of state-owned companies be held to account by the SA public?
South African President Ramaphosa admitted in his state of the nation address that state-owned enterprises “are experiencing severe financial operation and governance challenges”. He continued...
Removing directors of a company
The Companies Act, 71 of 2008, requires that the business and affairs of any company be managed by or under the direction of its board,...
Proactive attorney wins 2017 Best Article Award
Johannesburg attorney, Emile Myburgh’s article on ‘Holding delinquent directors personally liable’ has won him the 2017 LexisNexis Prize for Legal Practitioners for the best article...
by LexisNexis
VAT and employees’ tax in regards to non-executive directors
The question in regards the requirement to deduct employees’ tax from the remuneration paid to non-executive directors (NED), or whether the NED would be required to be registered for VAT, has been a longstanding debate. Often companies applied the more cautious…
Provided By Eversheds Sutherland
VAT rather than PAYE for non-executive directors
In the 2016 budget review, Finance Minister, Pravin Gordhan stated that clarity was required on whether the fees received by a non-executive director (“NED”) should...
How to remove directors during a deadlock
The board of directors of a company are responsible for managing the business and affairs of the company. However, disputes between directors and/or shareholders can...
Top ten risks for creditors of companies going into business rescue in 2017
Continued pressure on business and world economies appears to continue into 2017. In South Africa, 2016 has seen several companies going out of business and...
Review of the National Code Of Corporate Governance for Mauritius – What you need to know
First published in October 2003, the National Code of Corporate Governance for Mauritius (“the Code”) was revised in 2016 to align it with new laws...
Time to amend the Business Rescue Act?
Business rescue was introduced into our law in May 2011. But is it time for an overhaul?
The business rescue legislation has been in place for...
Spotlight on boards and shareholder activism
Corporate activism places public pressure on boards to improve both financial and non-financial performance of companies. Non-financial performance would include corporate governance, ethics, executive remuneration...
Criminal Liability In South Africa For Cartel Conduct From 1 May 2016
As of 1 May 2016, certain sections of the Competition Amendment Act (Act), providing for criminal liability of individuals who act in contravention of the...
by Bowmans
