In terms of the South African Companies Act 2008, an alternate director may only be appointed if the MOI makes provision for a director to nominate an alternate director to act in his or her stead.
Alternate directors, when acting as such, have the same powers, fiduciary duties and obligations as a director and cannot be told by anyone how to exercise their powers as is the case with a director.
In South Africa, security over financial instruments is typically established through a pledge, cession in security, or a combination of...
Directors often delegate certain functions and tasks to company employees or rely on the advice of experts. However, under South African...
In South Africa, banking and finance transactions often involve suretyships and guarantees. A guarantor's obligation depends on what the...