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When is the appointment of a company secretary, an auditor and an audit committee compulsory for a private company, personal liability company and non-profit company?

Chapter 3 – Question 11

Written by Dr. Adv. Leigh Hefer & Jayne Hunter-Rhys. COMPANY SECRETARY’S HANDBOOK (2021). Published by Genesis Corporate Services.

  1. Section 34(2) provides that a private company, personal liability company or a non-profit company is not required to comply with Chapter 3 of the Act, except to the extent contemplated in section 84(1)(c), or as required by the company’s MOI.
  2. This means that a private company, personal liability company or non-profit company is not obliged to appoint a company secretary or an audit committee, even if it is obliged to have its AFS audited, unless its shareholders or members (a non-profit company has members), voluntarily elects to do so amending the company’s MOI to that effect.
    Source: Section 34(2) of Companies Act 71 of 2008; Companies Regulation 44

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