Corporate accountability and the Companies Act

Hahn & Hahn Services

The commencement of the new Companies Act (Act 71 of 2008) on 1 May 2011 saw the increase of directors’ accountability.

The Act now provides for a court application to declare a director delinquent or to have him placed under an order of probation.

The Act confers locus standi on a broad range of persons to apply to court for such an order and such applications can have far-reaching implications for directors.

Corporate accountability and governance risks faced by boards of directors have increased significantly in recent years. Rulemaking bodies have adopted regulations to improve transparency and to protect corporate shareholders and stakeholders.

The credit crisis has produced a further increased focus on corporate governance issues globally.

Hahn & Hahn Attorneys has a leading Corporate Governance practice, providing strategic guidance and representation to companies and their directors, officers, and shareholders. Our proactive approach to corporate controls, compliance assessment, and planning helps us to anticipate and protect clients from legal issues that would adversely affect their business operations or shareholder value.

We advise boards, board committees, individual directors, officers and company managers on their duties, obligations, and liabilities under legislative requirements.

We provide vigorous and effective representation of the company, its directors, and managers. Our experienced lawyers cover a wide range of legal disciplines, including corporate, securities regulation, litigation, regulatory specialties, executive compensation, employment, and white collar crime.

 

jaco@hahnlaw.co.za

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