Directors' appointment and disqualification rules define eligibility, reporting duties, and restrictions on remuneration and offices of profit. Directors must be natural persons and obtain qualification shares; statutory disqualifications include unsound mind, insolvency, conviction, unpaid calls ... Summary
Directors' appointment and disqualification rules define eligibility, reporting duties, and restrictions on remuneration and offices of profit.
Directors must be natural persons and obtain qualification shares; statutory disqualifications include unsound mind, insolvency, conviction, unpaid calls and court orders. Auditors must report annually on director disqualification. A statutory cap limits simultaneous directorships with specified exclusions. Appointment occurs via memorandum subscribers, members, board actions, government or third-party nominations, and articles; removal may be by shareholders, government, or tribunal. Directors' remuneration is subject to statutory percentage limits tied to net profits, and holding an office or place of profit by a director or related persons requires prior special-resolution consent and is restricted by remuneration thresholds.
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