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Competition Act, 1998 (Act No. 89 of 1998)

Notices

Guidelines on Minority Shareholder Protections

Annexures

Annexure B - Minority Shareholder Protections which are likely to confer control

 

ANNEXURE B - MINORITY SHAREHOLDER PROTECTIONS WHICH ARE LIKELY TO CONFER CONTROL

 

1. The right to approve and/or veto or decline the strategy or the business plan.

 

2. The right to approve and/or veto or decline the appointment of the Chief Executive Officer or Chief Financial Officer of the firm, or the amendment of any material term of such person's appointment.

 

3. The right to approve and/or veto or decline the dismissal of an executive of the firm.

 

4. The right to approve and/or veto or decline the budget.

 

5. The right to approve and/or veto or decline the firm from competing with the minority shareholder.