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The standard of directors' conduct in South Africa
Complying with the Companies Act, fulfilling fiduciary duty
When accepting a directorship appointment, the new director agrees to a certain standard of conduct. It is a reasonable assumption of the shareholders that every director must apply his/her particular skills, experience and intelligence ethically to the advantage of the company.
The standard of directors’ conduct
In South Africa, the Companies Act defines the standard of directors’ conduct. The legislation encourages directors to act honestly and bear responsibility for their actions. Deloitte's standard of directors conduct template can be used to hold directors accountable.