30 June 2009

Draft King III Report Published for Comments

The third Report on Governance in South Africa (King III) was published in February this year by the Institute of Directors (IoD) in draft format for written comments.

The report is the culmination of the recent corporate law reform process in South Africa, following the Companies Act No 71 of 2008 (the new Companies Act), which is expected to become operative on 1 July 2010. The King III report will become effective on 1 March 2010 and until then, the current King II report will still apply.

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