Transcription of PROTOCOL ON CORPORATE GOVERNANCE
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PROTOCOL ON CORPORATE GOVERNANCE
PROTOCOL ON CORPORATE GOVERNANCE in the PUBLIC SECTOR REPUBLIC OF SOUTH AFRICA Department of Public Enterprises. 2002 all rights reserved Page 1 of 54 PROTOCOL ON CORPORATE GOVERNANCE IN THE PUBLIC SECTOR 1. Historical Background In 1994 upon the election of a democratic majority government, the Government found that some of the instruments for delivering necessary services and carrying out policy were actually SOEs, and their control and GOVERNANCE was not based on any standardized principles or rules. These SOEs were organized in many different ways and subordinate to a wide range of legislation and statutory regulations. Some SOEs, in fact, acted as autonomous entities , having not had substantive direction or control from the previous Government for a long period of time. South African SOEs form a significant portion of vital industries that drive the economy by providing factor inputs. Three key inputs, electricity, transportation and telecommunications are dominated by SOEs.
4.4.1. all public entities listed in Schedules 2 and 3 (B) and (D) to the PFMA; and 4.4.2. any unlisted public entities that are subsidiaries of a public entity, whether listed or not. 5. Governance in Public Enterprises 5.1. Boards and Directors Boards constitute a fundamental base of corporate governance in the SOE’s.
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