Clear rules are urgently needed to prevent a legal vacuum in South African boardrooms.
- Professor in Company Law, University of South Africa
South African companies now have a legal obligation to take proactive steps to prevent bribery.
South Africa’s laws and regulations aren’t clear about the role of the chair of a company. This carries huge risks for individuals and companies.
Given South Africa’s staggering corruption levels, a strong legal framework is needed to encourage and protect whistleblowers.
South Africa’s laws designed to protect whistleblowers need urgent reform.
Directors should avoid accepting more directorships than they can handle.
Companies must strengthen their boards if they want to survive these uncertain times.
Boards of non-profit companies must be vigilant about who they appoint as directors and do proper screening.
The view that long-serving directors are so enmeshed with the company that they lack independence is gaining traction.
The law in South Africa is clear. Board committees may not function without keeping minutes.
The state capture inquiry shows that South Africa’s parliament needs to urgently end the uncertainty about whether or not shadow directors are governed by the Companies Act.
The publicity given to the Moyo saga has brought to the forefront some important lessons that should be noted by company directors.
A company director these days is often a skilled professional packing a lot of experience, but these very same factors will count against a director when a court decides a delinquency application.
For the first time in South African company law, courts can declare directors delinquent. This new remedy must not be abused by those with the power to use it.
Directors who are unfairly kicked out of office by a hostile board face challenges since the legal remedies open to them are unclear.
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