LML4806 ASSIGNMENT 1 MEMO - SEMESTER 1 - 2023 - UNISA (DETAILED MEMO WITH REFERENCES)
Question: 1
Musa, Amos, Sipho and Jimmy are directors of Khubo Limited. Jimmy was appointed as an executive director of Khubo Limited three years ago under a five-year contract of employment with the compan...
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LML4806
Company Law
ASSIGNMENT 1 MEMO
SEMESTER 1 - 2023
UNIQUE NUMBER:- 702485
Due Date :- 17 MARCH 2023
Includes Footnotes and/or Bibliography
QUESTION PREVIEW
Question: 1
Musa, Amos, Sipho and Jimmy are directors of Khubo Limited. Jimmy was appointed as an executive director of Khubo Limited
three years ago under a five-year contract of employment with the company. Musa has expressed his concerns to the board of
directors that for the past two financial years Jimmy has been failing to ensure the timely preparation and submission of the
company’s annual financial statements, and that Jimmy omitted to sign the annual financial statements for the previous
financial year as the authorised director, as required. Musa has also informed the board of directors that, after joining Khubo
Limited, Jimmy was removed as chairperson of the board of trustees of the JF Pension Fund after he forged some documents
and withdrew R2 million from the JF Pension Fund’s bank account for his personal use. Advise Jimmy on the following:
1.1 Whether under the circumstances of this case the board of directors of Khubo Limited will have valid grounds to remove
him (Jimmy) as a director of the company. (6)
1.2 The procedure that the board of directors must follow and the rights that Jimmy has in terms of the Companies Act 71 of
2008 should the board of directors decide to remove him as a director. (8)
Question: 2 TN Engineering Group Ltd (“the company”), a newly incorporated company does not have a company secretary.
The company has been approached by RLV Corporate Services (Pty) Ltd which has offered to provide it with company
secretarial services. In its Memorandum of Incorporation, RLV Corporate Services (Pty) Ltd describes itself as a South African
business that provides customised compliance, governance and company secretarial services to the South African corporate
community. Question continues…
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