n Without Prejudice - Extra muscle for boards : company law
|Article Title||Extra muscle for boards : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Oct 2010|
|Pages||10 - 11|
Under the 2008 Companies Act a company's board has considerable authority which was conventionally assumed by the shareholders. A significant change introduced in the new Act is that the power to issue shares, including the power to increase the authorised share capital, will be exercisable by the board instead of the shareholders in general meetings, provided the memorandum of incorporation (MOI) authorises this.
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