South Africa is in a deepening economic crisis, with the resultant dwindling employment opportunities. As a result more young people are resorting to entrepreneurial ventures leading to the growth in the number of small medium enterprises. We have entered an era where most small businesses use a “company” as their structure of choice. An era where Corporate Transactions and Governance are a key part of the business and financial landscape. In addition the incidence of major corporate failures and scandals at African Bank, Steinhof and VBS are blamed on the conduct of the boards of directors. A response to such corporate failures can be found in the Companies Act, 2008, where it sets a higher standard of accountability of directors and introduces tougher penalties.

At Buzz-in-Legal we believe that it is now more important than for our learners to know and understand what is expected of the board of directors and what constitutes governance failure. This course will provide with in-depth knowledge about the office of the director, its function, duties etc.

Course Objectives

After reading and understanding the contents of this course and you should be able to:

• Explain what a director is, distinguish between an executive, a non-executive director and an independent non-executive director;
• Explain how a director is appointed, what is the difference between ineligible and disqualified persons is and who is excluded from being a director;
• Explain what the functions, powers of a director are and how a director acquires the authority to represent a company. and how directors are remunerated
• Explain what the duties of directors are at common law and under the Companies Act and distinguish between the different prescribed disclosures by directors;
• What constitutes breach of director duties, and how a person ceases to be a director & what constitutes breach of fiduciary duties.
• What remedies are available to a company against a director for breach and Liability:

Short Course Outline (Modules)

• Module 1 - What a director is.
• Module 2 - How directors are appointed and what the functions and powers of a director/s.
• Module 3 - What the Fiduciary duties of directors are.
• Module 4 - How a person ceases to be a director & what constitutes breach of fiduciary duties.
• Module 5 - What are the remedies available to a company against a director for breach and Liability.