There are different ways of controlling the power of directors to issue shares, as follows: exclude the Board’s power to increase the number of authorised shares so that the shareholders will have to resolve by special resolution to amend the number of authorised shares in the MOI. Subsequently, there will be no authorised but unissued [...]

In terms of section 66(4)(a)(i) a company’s MOI may provide for the direct appointment or removal of one or more directors, by any person who is named in or determined ito the MOI of that company. In terms of section 67(1) each incorporator of a company is a first director of the company and serves [...]

What is the Memorandum of Incorporation? The MOI is defined as a document that sets out the rights and responsibilities of shareholders, directors and other within a company, and by which a company is incorporated in the Act, or by which a pre-existing company was structured and governed. All companies are required to have a [...]