Appointment of directors, Business Law and Ethics

Appointment of Directors:

In the absence of other provisions in a company's articles, the directors of the company would be appointed in accordance with the following provisions of Table A.

NFirst Directors

 The names of the first directors shall be decided in writing by the subscribers of the memorandum of association or a majority of them. If there is a deadlock, all the signatories to the memorandum of association shall be the company's first directors.

Subsequent Directors

 The subsequent directors are appointed by the members in general meeting beginning from the first annual general meeting at which all the first directors retire from office and the members are given the first opportunity to elect directors of their own choice. Therefore the retiring directors are however eligible for election under Article 89. At the second annual general meeting one-third of the directors are to retire from office, so the ones to retire being the ones who have been longest in office since their last election. As between persons one who became directors on the same day those to retire shall (unless they otherwise agree among themselves) be decided through lot. One-third of the board shall thereafter retire per annum.

Posted Date: 1/12/2013 4:37:25 AM | Location : United States







Related Discussions:- Appointment of directors, Assignment Help, Ask Question on Appointment of directors, Get Answer, Expert's Help, Appointment of directors Discussions

Write discussion on Appointment of directors
Your posts are moderated
Related Questions
1. Justices in the U.S. Supreme Court are appointed for life. Unless they choose to retire, they have the right to remain in office and cannot be removed by congress or by the Pres

Common law rules: The above common law rules have been modified by the following statutory provisions:  VOID ALLOTMENTS a) S.50 A renders an allotment void if it was mad

Helen Brown's husband Mark was recently charged with an offence under the Welfare of the Community Act 1962 (Qld).  It is likely that Helen will be called as a witness against hi

Bills: Further an Act of Parliament begins as a Bill that is the draft of law that Parliament intends to make.  In section 46(1) of the constitution states like "the legislati

What is a condition precedent? Provide me with an example.

State Article 3 of air and outer space law Article 3 refers to the fact that the Convention would be applicable to the civil aircraft only and not to the state aircraft. Also,

Explain Non Proliferation Treaty The treaty which regulates and limits the use of nuclear weapons is known as Non Proliferation Treaty (NPT), signed in 1968. The NPT lays down

Balance sheet: S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account,

What are  the important provisions of the Statute of ICJ Some of the important provisions of the Statute of ICJ are: Article 34 which states that only states and not the in

Question 1 Briefly explain: (i) Describe Business ethics. (ii) Illustrate caveat emptor. (iii) Define corporate governance. (iv) What is whistle blowing? (v) D