S A Securities v Nicholas [1911] ZATPD 76 (30 May 1911)

Company - Managing Director - Scope of Authority - Articles of Association - Construction - Dominant Objects Rule

Unless the articles of association of a company restrict the powers which the directors may delegate to a managing dlirector, anyone dealing bona fide with the managing director is entitled to assume that he has all the powers which his position as such ostensibly would give him.

General words used in the objective clauses of articles of association of a company must be construed as ancillary to the dominant objects of the company which are to be discovered from the context of the articles of association.