Managing agent competition ban rescinded after abolition of the managing agent system, removing the provision from Companies Act. Section 375 prohibited a managing agent from engaging in business competing with the business of the managed company, as part of the Companies Act management and administration provisions; it was omitted by the Companies (Amendment) Act, 2000 because provisions relating to managing agents had become redundant after abolition of the managing agent system by Act 17 of 1969.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Managing agent competition ban rescinded after abolition of the managing agent system, removing the provision from Companies Act.
Section 375 prohibited a managing agent from engaging in business competing with the business of the managed company, as part of the Companies Act management and administration provisions; it was omitted by the Companies (Amendment) Act, 2000 because provisions relating to managing agents had become redundant after abolition of the managing agent system by Act 17 of 1969.
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