n Without Prejudice - The 'stakeholder inclusive' approach : company law




Included in the fiduciary duties imposed on directors is that they are required to act in the best interest of the company. Before the Companies Act, (71 of 2008), the King Report on Governance Principles for South Africa, 2009 and the King Code of Governance Principles for South Africa, 2009 ('King III'), it was accepted that meant to make decisions that benefitted the shareholders only. Thus companies were focused on maximising shareholder wealth.


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