Number of companies of which a person may be appointed manager.

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Full Text of the Document

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....xcept as provided in sub-section (2). (2) A company may appoint or employ a person as its manager, if he is the manager or managing director of one, and not more than one, other company: Provided that such appointment or employment is made or approved by a resolution passed at a meeting of the Board with the consent of all the directors present at the meeting, and of which meeting and of the res....