Legal Framework Governing Responsibilities
- Overview of Relevant Legislation
- Companies Act 71 of 2008
- Nonprofit Organisations Act 71 of 1997
- Trust Property Control Act 57 of 1988
- Common Law Principles
- Comparison between Directors and Trustees Roles
- Corporate vs. Nonprofit Organizations
Directors' Responsibilities and Accountability
- Understanding the Role of Directors
- Definition of a Director
- Duties to the Company
- Key Responsibilities (Section 76 of the Companies Act)
- Duty of Care, Skill, and Diligence
- Duty to Act in Good Faith
- Duty to Avoid Conflicts of Interest
- Accountability Mechanisms
- Reporting Requirements
- Disclosure of Interests
- Role of the Board and Board Committees
Trustees' Responsibilities and Accountability
- Understanding the Role of Trustees
- Definition of a Trustee
- Duties to the Trust Beneficiaries
- Key Responsibilities (Section 9 of the Trust Property Control Act)
- Duty of Care and Prudence
- Duty to Act in the Best Interests of the Beneficiaries
- Accountability Mechanisms
- Reporting Obligations to Beneficiaries
- Role of a Trust Deed
- Addressing Breaches of Duty
- Best Practices and Ethical Considerations
- Importance of Governance Framework
- Creating a Culture of Accountability
- Ethical Decision-Making in Governance
Conclusion and Wrap-up
- Summary of Key Points
- Importance of Ongoing Education and Awareness
- Resources for Further Learning
- Closing Rema
