QUESTION ONE

XYZ Innovations $($Pty$)$ Ltd$.$ is a tech startup founded by John and Sarah, who are childhood

friends. The company specializes in developing cutting$-$edge software solutions for various

industries. Over the years, the company has grown rapidly and attracted investors due to its

innovative products. However, recently, XYZ Innovations $($Pty$)$ Ltd$.$ has been facing financial

difficulties, and there have been disagreements between the founders regarding the

company's future.

$1\mathrm{.}1$ Assess how the Companies Act $71$ of $2008$ shaped the landscape of corporate

governance and business practices in South Africa since its enactment, and what the

driving forces behind its implementation were.