CML 5601F ADVANCED COMPANY LAW TEST ASSIGNMENT (APRIL 2021)
This test assignment is marked out of 50 and counts 40% of your total course mark.
The word count for the assignment is 2500 – 3000 words. Footnotes and citations do not form part of the word count. Please use a standard font like Times New Roman or Arial, font size 11 and 1.5 or double spacing. You may use any footnoting convention that you are familiar with, as long as you use it consistently.
You can use the prescribed course sources and materials provided on Vula as well as any other materials you wish to answer the assignment, but the completed submission must be your own work and sources must be referenced. You may not collaborate with or consult any other person with respect to the test assignment.
You must submit the test assignment on Vula under the Assignment tab (which also runs your script through Turnitin) before the deadline which is 11.55pm on Sunday 2 May 2021. A specific Assignment tab will be set up for your test and it will close on the deadline, whereafter submission will not be possible. (If you are one of the students who has been granted a 72hr extension then that deadline arrangement will apply to you.)
Please put your name and student number at the top of the assignment. If you have any questions about submission logistics, please contact Mrs Sheryl Ronnie, the course administrator.
I will monitor our Vula chat room and my inbox for any queries about the test questions on the test itself from 8.30am on Monday for an hour or so to deal with any immediate queries, and any input I give will be displayed there for the general information of all students.
Question:
The shareholders are a critical stakeholder group and pivotal role players within the structure of a company. Their actions can materially affect the way in which a company functions and is managed and controlled. The Companies Act and King IV recognise the vested interests of shareholders and provide for various ways in which shareholders can exert their power.
Against this background explain and critically discuss the rationale for, and nature of, shareholder power, the position of shareholders vis-à-vis the board of directors and other stakeholders, and how this finds application in ANY TWO OF THE FOLLOWING:
- Derivative Actions (s165);
- Delinquency Applications (s162);
- Board Accountability in King IV; or
- Shareholder Activism.
You do not need to repeat all the content of the specific provisions of the relevant sections in the Act. A reference to the section(s) and a brief explanation will suffice.
Refer to any relevant case law and/ or examples reported in the news media to support and illustrate your observations in your answer.
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