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LML4806 ASSIGNMENT 1 SEMESTER 2 – 2023 (2023)

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LML4806 ASSIGNMENT 1 SEMESTER 2 2023

UNIQUE NUMBER: 818236

CLOSING DATE: 25 AUGUST 2023

Question: 1
Shareholders’ resolutions must usually be voted on at properly constituted meetings of the company’s shareholders. However, the Companies Act 71 of 2008 provides for an exception to this general rule. Explain what this exception under the Companies Act 71 of 2008 entails.

Question: 2
With reference to the relevant provisions of the Companies Act 71 of 2008, advise the board of directors of Free State Airlines SOC Ltd on the following matters:
2.1 Whether David has breached any specific duty that he owes to Free State Airlines SOC Ltd by not informing the board of directors about his shareholding in Aerial Lease (Pty) Ltd.

2.2 Whether the lease agreement in this scenario is valid and binding on Free State Airlines SOC Ltd.