In terms of the South African Companies Act, 2008, it is the Board, collectively, that has the power to act. Individual directors do not have the power to bind the company, save as authorised by the Board.
The Board Has the Power Not the Individuals
top of page
Search
Recent Posts
See AllIn 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...
bottom of page