Limit on directorships requires exceeding appointees to vacate prior posts within a prescribed period or new appointments lapse. A person whose appointments would cause the total number of directorships to exceed the statutory cap must choose which directorships to retain; new appointments do not take effect until that choice is made, and they become void if the required vacancies are not effectively made within the prescribed short period, combining a mandatory vacation requirement with an automatic voidance mechanism tied to the statutory timeframe.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Limit on directorships requires exceeding appointees to vacate prior posts within a prescribed period or new appointments lapse.
A person whose appointments would cause the total number of directorships to exceed the statutory cap must choose which directorships to retain; new appointments do not take effect until that choice is made, and they become void if the required vacancies are not effectively made within the prescribed short period, combining a mandatory vacation requirement with an automatic voidance mechanism tied to the statutory timeframe.
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