3.1 Name and distinguish between the two types of resolutions provided for in the

Companies Act 71 of 2008 that may be passed by shareholders in a meeting.

(4)

3.2 List the matters in terms of the Companies Act 71 of 2008 for which a special

resolution is required.

(3)

3.3 Briefly explain the operation of the majority rule principle in Company law.

(5)

3.4 Thandeko is a director of Best Pharmaceuticals (Pty) Ltd. The company has developed a new vaccine for Covid-19. Thandeko gives the formula to Newco Pharmaceuticals (Pty) Ltd in exchange for a lucrative fee. The board of directors of Best Pharmaceuticals (Pty) Ltd becomes aware of this and is very upset about it.

8

company secretary. Give a reason for your answer.

Question 4

(2)

[25]

CONFIDENTIAL

3.4.1. Best Pharmaceuticals (Pty) Ltd intends to apply to court for an order declaring Thandeko delinquent. Indicate who, in terms of the Companies Act 71 of 2008, would be allowed to apply to court for such an order.

(5)

3.4.2 Advise Best Pharmaceuticals (Pty) Ltd on the potential orders that a court may make if Thandeko is declared a delinquent in terms of the Companies Act 71 of 2008.

(3)

3.5 Percy is an auditor for Lightning Ltd. Having served as an auditor for three consecutive years, Percy decides to study in the United Kingdom for a year and resigns from his position. Upon his return from the United Kingdom, Percy reapplies for his previous position as auditor at Lightning Ltd.

3.5.1. Advise Lightning Ltd whether Percy may be reappointed in terms of the Companies Act 71 of 2008.