Special Investigating Units and Special Tribunals Act, 1996
R 385
Companies Act, 2008 (Act No. 71 of 2008)RegulationsCompanies Regulations, 2011Chapter 5 : Fundamental Transactions and Takeover RegulationsPart D : Duties and Conduct of Offeree and Directors109. Requisite knowledge of independent board members |
Each member of an independent board and, where applicable, an independent board of an offeror, must—
| (a) | take all reasonable steps to receive all necessary information to reach a fully informed opinion concerning an offer and prepare it for relevant securities holders; |
| (b) | meet with any appointed adviser to be briefed on all details of the offer, including the offer mechanism, terms, conditions and other relevant information; |
| (c) | while respecting regulatory timetables, allow sufficient time to discharge all duties and responsibilities, and resist haste and pressured time deadlines; and |
| (d) | become properly informed of the offeree regulated company's value per security or, where applicable, the offeror company's value per relevant security. |
