Study Unit 2 - Lml4806 Study Guide Graded A+

A temporary director who is appointed to fill a vacancy {Ans: ▪ MOI can provide for appointment ▪ Unless MOI provides otherwise, directors may appoint a temporary director}An ex officio director {Ans: ▪ holds office solely as a result of that person holding another office or title or status ▪ not appointed by shareholders ▪ all the powers and functions of any other director, except to the extent MOI restricts them ▪ has all the duties of and subject to the same liabilities as any other director}Legal position of a company director and board of directors? {Ans: This is a controversial question because the first thing to take note of is that the relationship between director and company is analogous to that of an agent, directors act like agents for the company. The position of a director is also similar to that of a trustee. However, both these analogies are not appropriate or sufficient descriptions of a directors legal position in South Africa. The legal position of a director is sui generis because it stands on its own. Therefore the legal position of a director is determined by reference to a set of facts of each individual