Laying it on the line : company law

Abstract

It is well known that one of the fundamental duties of a director is not to allow any personal financial interests to interfere with his or her corporate responsibilities - hence the statutory duty to disclose these interests to the board of directors. It is important to note, however, that this duty is no longer confined to directors but has now, by virtue of the new Companies Act (71 of 2008), been imposed on a broad spectrum of company officers.