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Companies Act, 2008 (Act No. 71 of 2008)

Companies Regulations, 2011

Chapter 2 : Formation, Administration and Dissolution of Companies

Part F : Governance of Companies

38. Prescribed officers of companies

 

 

See section 66(10)

 

(1) Despite not being a director of a particular company, a person is a "prescribed officer" of the company for all purposes of the Act if that person—
(a) exercises general executive control over and management of the whole, or a significant portion, of the business and activities of the company; or
(b) regularly participates to a material degree in the exercise of general executive control over and management of the whole, or a significant portion, of the business and activities of the company.

 

(2) This regulation applies to a person contemplated in sub-regulation (1) irrespective of any particular title given by the company to—
(a) an office held by the person in the company; or
(b) a function performed by the person for the company.