n Without Prejudice - Delinquent delinquency provisions? : company law

Volume 16, Issue 2
  • ISSN : 1681-178X



In South African corporate law, the business and affairs of a company must be managed by or under the direction of its board of directors (s66(1) of the Companies Act (71 of 2008)). Given the vital role that directors play in companies, it is necessary for there to be some degree of accountability to ensure that they act in the best interests of the company and have the degree of care, skill and diligence reasonably expected of a person carrying out the functions in relation to the company(s76(3)(b) read with s76(3)(c)(ii)).

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