Companies Act, 2008 (Act No. 71 of 2008)RegulationsCompanies Regulations, 2011Chapter 2 : Formation, Administration and Dissolution of CompaniesPart F : Governance of Companies38. Prescribed officers of companies |
See section 66(10)
| (1) | Despite not being a director of a particular company, a person is a "prescribed officer" of the company for all purposes of the Act if that person— |
| (a) | exercises general executive control over and management of the whole, or a significant portion, of the business and activities of the company; or |
| (b) | regularly participates to a material degree in the exercise of general executive control over and management of the whole, or a significant portion, of the business and activities of the company. |
| (2) | This regulation applies to a person contemplated in sub-regulation (1) irrespective of any particular title given by the company to— |
| (a) | an office held by the person in the company; or |
| (b) | a function performed by the person for the company. |