Directorship limits now exclude dormant company positions from reckoning under the amended provision on director limits. A new Explanation is inserted clarifying that, for reckoning the statutory limit on the number of directorships, a directorship in a dormant company shall not be included; the existing Explanation is renumbered and the new Explanation provides an explicit dormant company exemption when counting director positions.
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Directorship limits now exclude dormant company positions from reckoning under the amended provision on director limits.
A new Explanation is inserted clarifying that, for reckoning the statutory limit on the number of directorships, a directorship in a dormant company shall not be included; the existing Explanation is renumbered and the new Explanation provides an explicit dormant company exemption when counting director positions.
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