A ‘fair and reasonable proposal’ by the board may still amount to a breach of duty to exercise directors’ powers for a proper purpose

Authors :
Mongalo, Tshepo H
Journal Title :
The Journal of Corporate and Commercial Law & Practice
Citation :
2019 (2) JCCL&P 29
Subject :
Thenature of the power to buy high-voting deferred shares and cancel them
:
Whether the power was excercised for a proper or improper purpose
:
Companies Act 71 of 2008, s 66(1), s 76(3)(a)

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