n Without Prejudice - Disposing of a company's undertaking or assets : company law
|Article Title||Disposing of a company's undertaking or assets : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Nov 2008|
|Pages||15 - 18|
The directors of a company can not dispose of the whole or the greater part of the company or the whole or the greater part of the assets of the company unless they obtain the approval of the general meeting by way of a special resolution by the members. The general meeting's approval can be obtained prior to the entering into proposed transaction or by way of ratification after having entered into such transaction.
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