Phillips Law

CHAPTER 6: CORPORATE CONFLICT PREVENTION AND RESOLUTION

Preamble:
324. Corporate conflicts are inherent in business. They may be internal or external to the company. There is therefore a need to prevent conflicts and, where they occur, they should be resolved inexpensively and timeously.

Principles:
325. Prevention and resolution of corporate conflicts makes it possible to safeguard the rights of shareholders and protect the property and business reputation of the company.

326. Corporate conflict prevention and resolution must be based on the provisions of the law and best practice codes.

327. For a company to successfully solve corporate conflicts, controversies and problems and to achieve its corporate goals, it must establish conditions, processes, procedures and systems for the prevention and resolution of corporate conflicts.

328. The Board is responsible for corporate conflict prevention, resolution and review and may establish a corporate conflict resolution (CCR) committee to assist in this regard.

  • According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE