Regulatory Alerts2017-03-28
Added · Updated
State-owned Enterprises Governance Act 2 of 2006
The Act establishes the State-owned Enterprises Governance Council as a Cabinet committee to oversee the governance, performance monitoring, and restructuring of State-owned enterprises. It mandates the Council to set corporate governance principles, determine board composition and remuneration, and approve annual budgets and profit distributions. The legislation defines strict procedures for appointing board members, imposes limits on serving multiple boards, and creates specific offences with fines or imprisonment for breaching confidentiality or disclosure of interest requirements.
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