Tag: court of law
Consequences of non-compliance for all accountable institutions
The Financial Intelligence Centre (FIC) brings to the attention of all accountable institutions, important information regarding penalties and administrative sanctions for non-compliance. This information applies also to those institutions included on Schedule 1 of the Financial Intelligence Centre Act 2001 (Act 38 of 2001) since December 2022.
Pressure points and hurdles when shareholders remove a director
The removal of a director, by way of the shareholders’ inherent right to do so by an ordinary resolution, (section 71 of the Companies Act 2008) is the typical initial go-to remedy when a breakdown in the relationship amongst shareholders and directors arise.
