Limit on Directorships: caps on simultaneous board memberships with transitional resignation choice and daily penalties for violations. Statutory limits restrict the number of directorships a person may hold, including alternate posts, with a separate cap for public companies; holding/subsidiary private companies count toward the public cap, dormant companies are excluded, members may set a lower limit by special resolution, excess pre commencement directorships must be regularised within one year by choice, resignation and intimation to companies and the Registrar, resignations take effect on dispatch, and accepting appointments in breach attracts a daily monetary penalty subject to a maximum.