All sections · Part VII: Directors · Sub-Part I: Management of companies
131 De facto directors
This section has been amended. The text above is the 2016 wording; the amending provisions follow.
(1) Without limiting the manner in which the expression „director“ is to be
read by virtue of section 2 and subject to subsection (3), a person who
has not been formally appointed as a director of a company but who
occupies the position of director, or who manages, directs or supervises
the business and affairs of the company, shall be treated as a director of
the company.
(2) A person who, by virtue of subsection (1), is treated as a director of a
company is in this Act referred to as a de facto director.
(3) A person shall not be a de facto director of a company by reason only of
the fact that he or she gives advice in a professional capacity to the
company or any of the directors of it.
(4) If at any time a company does not have a director who has been formally
appointed as such, any de factodirector is deemed to be a director of the
company for the purposes of this Act.
read by virtue of section 2 and subject to subsection (3), a person who
has not been formally appointed as a director of a company but who
occupies the position of director, or who manages, directs or supervises
the business and affairs of the company, shall be treated as a director of
the company.
(2) A person who, by virtue of subsection (1), is treated as a director of a
company is in this Act referred to as a de facto director.
(3) A person shall not be a de facto director of a company by reason only of
the fact that he or she gives advice in a professional capacity to the
company or any of the directors of it.
(4) If at any time a company does not have a director who has been formally
appointed as such, any de factodirector is deemed to be a director of the
company for the purposes of this Act.
Amended since 2016
Act 32 of 2021 · 2021-08-02
21. The principal Act is amended, by repealing section 131, and
substituting therefor the following section —
Deemed directors
“131. If at any time a company does not have a director, any
person who manages, or who directs or supervises the management
of the business and affairs of the company is deemed to be a director
of the company for the purposes of this Act.”.
substituting therefor the following section —
Deemed directors
“131. If at any time a company does not have a director, any
person who manages, or who directs or supervises the management
of the business and affairs of the company is deemed to be a director
of the company for the purposes of this Act.”.
