Prohibition on reconstruction or amalgamation void when conditioned on continuance of managing director or manager. Any provision in a company's memorandum or articles, in a general meeting or board resolution, or in an agreement that prohibits reconstruction or amalgamation, or conditions such reorganisation on the continuance or reappointment of the managing director or manager, is rendered void from the commencement of the Act; this applies irrespective of whether the provision predated or postdated the Act.