True. In South Africa, a solvent person can be a director of a company. However, there are specific legal requirements that need to be met, including compliance with the Companies Act. A person who is an unrehabilitated insolvent (i.e., one who has not been declared solvent after bankruptcy) is generally prohibited from serving as a director of a company. As long as the individual is solvent and meets other qualifications, they can serve as a director.
a solvent person can be director of a company in south africa
true or false
1 answer