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  • An Individual Must Be 18 Years of Age: Click To Edit Master Subtitle Style

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    Shilpa Lakhina
    9 просмотров15 страниц
    An individual must be at least 18 years old to be appointed as a director. The first directors are named in the articles of association and hold office from incorporation until the first annual general meeting. Subsequent directors are appointed either by shareholders in a general meeting, with 1/3 of directors retiring rotationally each year, or by other directors to fill casual vacancies. Additional directors can be appointed but must not exceed the maximum number of directors, and alternate directors act in the place of absent directors. Appointments can also be made by third parties given rights in the articles, by the central government to prevent mismanagement, or through a system of proportional representation. All appointments must follow the procedures established in the Companies Act.

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    Presentation 1

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    An individual must be at least 18 years old to be appointed as a director. The first directors are named in the articles of association and hold office from incorporation until the first annual general meeting. Subsequent directors are appointed either by shareholders in a general meeting, with 1/3 of directors retiring rotationally each year, or by other directors to fill casual vacancies. Additional directors can be appointed but must not exceed the maximum number of directors, and alternate directors act in the place of absent directors. Appointments can also be made by third parties given rights in the articles, by the central government to prevent mismanagement, or through a system of proportional representation. All appointments must follow the procedures established in the Companies Act.

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    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPTX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    9 просмотров15 страниц

    An Individual Must Be 18 Years of Age: Click To Edit Master Subtitle Style

    Загружено:

    Shilpa Lakhina
    An individual must be at least 18 years old to be appointed as a director. The first directors are named in the articles of association and hold office from incorporation until the first annual general meeting. Subsequent directors are appointed either by shareholders in a general meeting, with 1/3 of directors retiring rotationally each year, or by other directors to fill casual vacancies. Additional directors can be appointed but must not exceed the maximum number of directors, and alternate directors act in the place of absent directors. Appointments can also be made by third parties given rights in the articles, by the central government to prevent mismanagement, or through a system of proportional representation. All appointments must follow the procedures established in the Companies Act.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPTX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 15

    Sec 253

    Who may be appointed as a director ?

    An individual

    Click to edit Master subtitle style

    4/24/12

    Must be 18 years of age

    ec S 4 25

    Appointment by articles as regard first directors


    Named in the articles of association

    Holds office from incorporation

    Click to edit Master subtitle style

    Signature must be verified

    Holding of office until 1st AGM

    4/24/12

    Procedure for appointment of first directors


    Consent of the directors

    Consent filed with the Registrar of Companies


    The date of appointment

    Click to edit Master subtitle style

    Form Nos.29 and 32 may be filed within 30 days

    Information relating to the directors interests in other 4/24/12 companies, firms and also

    The agreement

    Click to edit Master subtitle style

    4/24/12

    ec S 5 25

    Appointment by share holders in general meeting The subsequent directors

    are appointed Directors liable to retire by rotation shall retire in AGM

    Click to edit Master subtitle style

    1/3 of the total directors are liable to retire

    Deemed reappointment 4/24/12

    The number of rotational s.No directors No. of no. of


    directors

    rotational directors

    1) 2) 3)

    Click to edit Master subtitle style

    3 7 9

    2/3rd =2 2/3rd =5 2/3rd =6

    4/24/12

    Appointment by directors
    ec S 0 26

    I.

    II.

    Click to edit Master subtitle style

    III.

    Additional director Alternate director Casual director

    4/24/12

    Additional director

    Must not exceed the maximum strength

    Holding of office up to next AGM

    Click to edit Master subtitle style

    4/24/12

    Alternate director
    Acts in place of an absent director .
    Click to edit Master subtitle style

    4/24/12

    Vacate office on the return of original

    Casual vacancies The vacancy may arises because :

    Death Resignation Insanity Insolvency


    Click to edit Master subtitle style
    4/24/12

    Appointment by third parties

    ec S 5 25 ) (a

    The article give rights to :

    Debenture holders Financial corporation Banking company Click to edit Master subtitle style Not liable to retire by tor rec rotation di

    4/24/12

    om N

    ee in

    Appointment by the central government

    The main purpose is :

    ec S 8 40

    Prevention of mismanagement Click to edit Master subtitle style To safeguard the interest of company

    Holds office for a 4/24/12 period of 3 years .

    ec S 5 26

    Appointment by proportional representation


    By a simple majority By a system of proportional representation Not less 2/3rd of companys Click to edit Master subtitle style director Once in 3 years Appointment as per share holding

    4/24/12

    ni ba s Am her rot te b pu dis

    Click to edit Master subtitle style

    4/24/12

    conclusion
    Click to edit Master subtitle style

    The appointment should be done As prescribed

    4/24/12

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