n Without Prejudice - Personal financial interests - letting it all hang out : company law




It is well known that one of the fundamental duties of a director is not to allow any personal financial interests to interfere with his or her corporate responsibilities; hence the statutory duty to make disclosure of such interests to the board of directors. It is important to note, however, that this duty is no longer confined to directors but by virtue of the new Companies Act (71 of 2008), has now been imposed on a broad spectrum of company officers.


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