Insurance to protect a director against liability – the impact of Section 78 of the Companies Act 71 of 2008

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dc.contributor.authorZacchino, Marco
dc.date.accessioned2019-05-14T13:13:06Z
dc.date.available2019-05-14T13:13:06Z
dc.date.issued2018
dc.descriptionSubmitted in partial fulfillment of the requirements for the degree of Master of Law by Coursework and Research Report at the University of the Witwatersrand, Johannesburg, 2018en_ZA
dc.description.abstractThis research report assesses the impact of section 78 of the Companies Act 71 of 2008 on the indemnification of directors. Global company reform, which took place after the global financial crisis, was largely aimed at the protection of company stakeholders. This was achieved by placing emphasis on director’s conduct in managing the affairs of the company. South Africa, with the enactment of the 2008 Companies Act, followed this global trend by placing more onerous duties and obligations on directors, specifically in sections 75 to 77 of the Companies Act. The new Companies Act places directors at greater risk of being held personally liable by a third party for failure to adhere to the director’s duties and obligations. This report seeks to ascertain the impact of the enactment of section 78, in particular the provision for directors’ and officers’ liability insurance found in section 78(7). In addition, this report seeks to assess whether the correct balance has been struck between the need to hold directors to account and the need to preserve a director’s ability to manage the affairs of the company without fear of personal liability.en_ZA
dc.description.librarianXL2019en_ZA
dc.identifier.urihttps://hdl.handle.net/10539/26932
dc.language.isoenen_ZA
dc.titleInsurance to protect a director against liability – the impact of Section 78 of the Companies Act 71 of 2008en_ZA
dc.typeThesisen_ZA
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