For illustration purposes: when exercising the legal right to appoint a director, applying the principles and recommendations of good corporate governance in an ethical and effective manner, means there is a formalised process that, when correctly and consistently applied, should increase the probability of making the right appointment in the interest of the organisation.
When exercising my legal right as an individual to protect my own interests, applying the principles and recommendations of good corporate governance in an ethical and effective manner means that when I am a director, I will also take due care of the legitimate interests of the organisation that I serve and limit, to the extent reasonably possible, the potential harm my actions may cause the organisation.
Finally, when exercising functions as a regulator, applying the principles of good corporate governance in an ethical and effective manner means that a fair and transparent process will form the basis of every action and every decision. Good corporate governance principles and recommendations may not be legally enforceable but should form a central part of how we conduct ourselves as the leadership of organisations, whether in the private or public sector. Due process that complies in all respects with the letter of the law is obviously non-negotiable.
Only when this is designed and consistently applied on the basis of the principles and appropriate recommendations of good corporate governance can the spirit of the law really prevail.
Values we all know but ANC govt officials have yet to learn!
The values and principles that under ‘good’ from ‘bad’ governance - transparency, accountability, rule of law,responsiveness, etc - are all enshrined in our Constitution.
He can't even save his greedy self, but he wanted to SaveSA (only under Zuma). 🚮🚮
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