Tag: Zahrah Ebrahim
Delinquent directors: the cautionary tale of Dudu Myeni
As a bare minimum, directors are required to act in a manner which benefits the company – that is, to act in the company's best interests. This is entrenched in section 76 of the Companies Act which requires all directors, alternate directors and prescribed officers to act in good faith, in the best interests of the company and with the necessary degree of care, skill and diligence and prevents such persons from (1) abusing their position; and (2) knowingly causing harm to the company.
