Peter v Mimosa Court Shareblock RF (Pty) Ltd and Others (7651/2024)
Peter v Mimosa Court Shareblock RF (Pty) Ltd and Others (7651/2024) [2024] ZAWCHC 242 (5 September 2024)
The court held that section 71(5) of the Companies Act 71 of 2008 prescribes a strict 20 business day period for a director to apply for review of a board's determination to remove him. The statutory language does not provide for condonation of late applications, and the time period is triggered by the board's determination, not by the director's formal receipt of the resolution or record of deliberations. The applicant was found to have obtained actual knowledge of the board's decision on 12 March 2024, the day after the meeting, and the last day to deliver the review application was 11 Apri…
Source excerpt
- Removal Of Director
- Companies Act Section 71
- Statutory Interpretation
- Review Application Time Limits