Application for an exemption from the requirement to appoint a social and ethics committee(SEC),based on a myriad of grounds(including that the applicant company has only one director; is a family business and its activities are monitored in terms of a franchise agreement) pointing towards an exemption based on section 72(5)(b)of the Companies Act 71 of 2008–grounds advanced found to be without merit and insufficient to establish that “it is not reasonably necessary in the public interest to require the company to have a social and ethics committee, having regard to the nature and extent of the activities of the company” -held that the application is dismissed.
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