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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.