All directors are concerned about their liability. This concern was heightened in 2008 when in the new Companies Act No.71, Section 218(2) was passed:
“Any person who contravenes any provision of this Act is liable to any other person for any loss or damage suffered by that person as a result of that contravention.”
Does this mean that a director who is said to have failed in his or her duty of care which is a provision in the Act is liable to any person for any loss suffered by that person? Does this include shareholders who have had a diminution in the market value of their shares?
These are the interesting and concerning questions being asked by directors.
The IoDSA invites you to attend a discussion event, presented by Professor Mervyn King on the implications of Section 218(2) on directors.
Date: Monday, 27 May 2019
Venue: IoDSA, 144 Katherine Street, Grayston Ridge Office Park, Block B, 1st Floor, Sandown, Sandton
Registration Times: 16h00 – 16h30
Event Session: 16h30 – 18h00
IoDSA Members – No charge
Non Members – R350.00