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of <h1>Limits on holding multiple company directorships: 20 total, 10 public; excess directors must resign within one year.</h1> No person may hold office as a director, including an alternate directorship, in more than twenty companies at the same time, and may not be appointed as a director in more than ten public companies; for this limit, directorships in private companies that are holding or subsidiary companies of a public company are counted, while directorships in dormant companies are excluded for the twenty-company cap, thereby restricting concurrent board positions. Members may, by special resolution, prescribe a lower ceiling for directors of that company, thereby tightening eligibility. Persons exceeding the statutory limits immediately before commencement must, within one year, choose permitted companies, resign from the rest, and intimate the choice to the companies and the Registrar, with resignations effective on dispatch, and any contravening appointment attracts a daily penalty up to a capped maximum.
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