Welcome to Season 3 of The Cox Yeats Podcast! In episode 2, host Harshita Kapoor is joined by Cox Yeats partners Randhir Naicker, Benjamin Meadows, and Jason Goodison for a practical discussion on how companies authorise transactions. They unpack the legal framework governing board and shareholder resolutions, when shareholder involvement is required, and the serious consequences if the correct processes aren’t followed.
The conversation touches on the Companies Act, MOIs, shareholder agreements, financial assistance rules, buybacks, distributions, and the risks directors face if they get it wrong. Whether you’re a company director, shareholder, or advisor, this episode is packed with insights into making legally sound corporate decisions.
⏱ Timestamped Overview
00:00 – Introduction and introducing the guests 02:30 – Who makes decisions for a company? Directors, delegation & authority 03:30 – How resolutions are passed: meetings vs. round robin 05:00 – Majority voting, MOIs, and shareholder agreements 07:00 – Shareholder agreements vs. MOIs: breaches & consequences 08:00 – When shareholders must be involved: financial assistance explained 09:30 – Defining financial assistance & the Constantia case (2023) 11:00 – Solvency & liquidity test: what directors must consider 12:30 – Holding companies, subsidiaries & sister companies explained 13:20 – Reserved matters, restrictive matters & higher thresholds 14:30 – Quorum considerations for resolutions 15:30 – Other instances requiring special resolutions: buybacks, distributions & major disposals 16:40 – Director conflicts of interest (Section 75) 17:20 – Consequences of non-compliance: void transactions & personal liability 18:30 – Why informal decision-making isn’t enough: risks for directors & shareholders 18:55 – Closing remarks & key takeaways
Quote of the Episode
“The failure to get it right can result in the thing you are trying to do not happening. And that’s the last thing you want as a director of a company” – Benjamin Meadows 👣 Relevant Links
Jason Goordison Website: Cox Yeats - Jason Goodison Jason Goordison LinkedIn: Jason Goodison - Partner at Cox Yeats Attorneys: Business Law, Commercial Litigation, Natural Resources Law, Banking Law. | LinkedIn
Randhir Naicker Website: Cox Yeats - Randhir Naicker Randhir Naicker LinkedIn: Randhir Naicker - Partner at Cox Yeats Attorneys: Business Law, Corporate Mergers & Acquisitions, Construction, Engineering & Infrastructure Law, Medical Schemes. | LinkedIn
Benjamin Meadows Website: Cox Yeats - Benjamin Meadows Benjamin Meadows LinkedIn: Benjamin Meadows - Partner at Cox Yeats Attorneys | LinkedIn
🌐 Connect with Cox Yeats
🔗 Website: https://www.coxyeats.co.za/ 📘 LinkedIn: https://za.linkedin.com/company/cox-yeats 🎧 YouTube Channel: https://www.youtube.com/@coxyeats8892
Disclaimer: This article is for general guidance only and not intended as legal advice. Should readers require legal advice on any relevant issue, they are requested to consult a Cox Yeats professional.
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