Phillips Law

Recommendations of Corporate Conflict Prevention

336. To ensure effective prevention and resolution of company conflicts, any conflict which arises or may arise should be identified at a very early stage and should be resolved effectively, expeditiously and efficiently.

337. Obtaining, attempting to obtain, or accepting any bribe, secret commission or illegal inducement of any sort may give rise to corporate conflicts and the company must actively discourage such conduct with appropriate sanctions.

338. Controlling shareholders should comply with applicable laws and regulations in exercising their rights as investors and should be prevented from damaging the rights and interests of the company and other shareholders by means such as asset restructuring or by taking advantage of their privileged position to gain additional benefits.

339. Company directors, officers and employees should not use their powers for any improper purpose, take personal advantage of the company’s opportunities or allow their personal interests to come into conflict with those of the company.

340. The personal interests of company directors, officers or employees or persons closely associated with the company must not take precedence over those of the company and its stakeholders.

  • According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE