Social and Ethics Committee | ||
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Section 72 of the new Companies Act No 71 of 2008 (the 'Act') read with section 43 of the accompanying Regulations sets out the requirements for the establishment of a Social & Ethics Committee. Whilst the principle for Boards to assume responsibility for governing and monitoring the social and ethics aspect of an organisation was already established governance practice, this was the first time that a Board Committee for this purpose was legislated. Unfortunately, some clumsy drafting has led to considerable confusion on the 'how to' aspects of the implementation of the statutory requirement. During 2012 in an attempt to clarify some of the confusion, Prof Deon Rossouw of the Ethics Institute of South Africa (EthicsSA) published a Handbook which has been of considerable assistance. A free copy of this publication is available from their website here. However, we received feedback from our clients that the Handbook did not go far enough with regard to the 'how to' aspects of implementation. Accordingly In 2013 we decided to compile a more practical guide for institutions still grappling with the implementation of the legislation. For this reason, with the consent and blessing of EthicsSA, we have completed a publication which we trust will fill any gaps and provide practical assistance. It includes core questions the Committee should be asking to monitor its effectiveness as well as some sample Terms of Reference. A copy of this publication is available for free and will be delivered electronically upon receipt of a completed request form below:-
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