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Companies Act, 2008.

South Africa Current 2008

This act provides for holding directors personally liable for poor performance and poor public disclosure of information. Specific content for non-profit organizations as well.

Issuer name

Department of Trade and Industry

Government ministry

Business/Trade/Industry

More information

The Act states that every a) every state-owned company; b) every listed public company; and c) any other company that has in any two of the previous years scored above 500 points in terms of their Public Interest Score card to establish a Social and Ethics Committee. The introduction of the social and ethics committee in the Act can be seen as a mechanism for ensuring that companies do indeed monitor and report whether they produce social benefits to the economy, workplace, society, and natural environment

Organizations covered by the instrument

All Companies

Target organization notes

Not for profit organizations

Industry scope

All/none specified

Disclosure venue

Transparency

ESG coverage- S (Social)

All

ESG coverage- G (Governance)

All

ESG coverage- Eco (Economic & General)

All

Status

Current

Country

South Africa

Region

Africa & Middle East

Date of publication

2008

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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