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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

39. Directors and register of persons disqualified from serving as director

 

 

See section 69(8)(b)(iv) and section 70 (6)

 

(1) A notice that a person has become a director of a company, as required by section 70 (6) must be filed in Form CoR 39, within 10 business days after appointment.

 

(2) Within 10 business days after a person ceases to be a director of a company or external company, or after the company or external company becomes aware that any information respecting the director has changed, the company must file a notice of that change in Form CoR 39.

 

(3) In addition to the court orders received from the Registrar of the Court under section 69 (11A), the Commission may for purposes of maintaining the register of persons disqualified from serving as directors, obtain relevant information from the official records of the clerk of the magistrates court, the Master, the South African police services, any regulatory authority or any institution that regulates any profession in the Republic.

 

(4) The prescribed minimum value of a fine upon conviction for certain offences, which would result in automatic disqualification as a director in terms of section 69 (8)(b)(iv), is R1 000.