Vacation of office by directors.

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...., or at any time thereafter ceases to hold, the share qualification, if any, required of him by the articles of the company;      (b) he is found to be of unsound mind by a Court of competent jurisdiction;      (c) he applies to be adjudicated an insolvent;      (d) he is adjudged an insolvent; ^     [2][(e....

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....bsp;  (h) ^[4][he (whether by himself or by any person for his benefit or on his account), or any firm in which] he is a partner or any private company of which he is a director, accepts a loan, or any guarantee or security for a loan, from the company in contravention of section 295;      (i) he acts in contravention of section 299;      (j) he b....

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....ulting in the sentence, or order until the expiry of seven days from the date on which such appeal or petition is disposed of; or      (c) where within the seven days aforesaid, any further appeal or petition is preferred in respect of the adjudication, sentence, conviction, or order, and the appeal or petition, if allowed, would result in the removal of the disqualification....

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.... 1960, Act 65 of 1960, section 95, for "The office of a director shall be vacated if ". [2] Substituted by Companies (Amendment) Act, 1960, Act 65 of 1960, section 95, for clause (e). [3] Inserted by the Companies (Amendment) Act, 1960, 65 of 1960, section 95, [4] Substituted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 95, for "he, or any firm in which". [5] The wor....