Exam (elaborations)
AUE1601 ASSIGNMENT 2 SEMESTER 1 OF 2022
- Institution
- University Of South Africa (Unisa)
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AUE1601 ASSIGNMENT 2 SEMESTER 1 OF 2022Matter 1:
1.1. Explain the standards of director’s conduct with which the directors of Suit-up Ltd
must comply
Section 76 of Companies Act No. 71 of 2008 addresses the standard of conduct expected
from directors.
1) A director of a company must not use the position of director, or any information
obtained while acting in the capacity of a director.
to gain an advantage for the director, or for another person other than the
company or a wholly owned subsidiary of the company; or to knowingly cause harm to the
company or a subsidiary of the company; and
2) A director of a company must communicate to the board at the earliest practicable
opportunity any information that comes to the director’s attention, unless the director
i. reasonably believes that the information is-
immaterial to the company; or
generally available to the public, or known to the other directors; or
ii. is bound not to disclose that information by a legal or ethical obligation of
confidentiality.
3) Subject to subsections (4) and (5), a director of a company, when acting in that
capacity, must exercise the powers and perform the functions of director
i. in good faith and for a proper purpose.
ii. in the best interests of the company; and
iii. with the degree of care, skill and diligence that may reasonably be expected
of a person-
carrying out the same functions in relation to the company as those
carried out by that director; and
having the general knowledge, skill and experience of that director.
FOR ACCADEMIC NEEDS CONTACT /0651609781
, 4) In respect of any matter arising in the exercise of the powers or the
performance of the functions of director, a particular director of a company
i. will have satisfied the obligations of subsection (3)(b) and (c) if
a) the director has taken reasonably diligent steps to become informed
FOR ACCADEMIC NEEDS CONTACT /0651609781
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