Books > Old Books > Poetry Northwest (1959)


Page 116

CHAPTER 11
DIRECTORS

ONE of the advantages of the company system is that it enables a person to have a financial interest in a business in the management of which he is unable to take part. The management of a company is therefore usually entrusted to a small body of persons commonly called " directors," but who are sometimes called governors, managers, or committee of management. The exact name by which a person occupying the office of director is called is immaterial, as under s. 455 (1) the expression " director " includes any person occupying the position of director by whatever name called.

APPOINTMENT OF DIRECTORS
Every company, other than a private company, registered after November 1, 1929, must have at least two directors. Companies registered before that date and every private company must have a director (s. 176). Apart from this provision, the number of directors and the manner of their appointment is regulated by the articles. Table A, Art. 75, provides:

"The number of the directors and the names of the first directors shall be determined in writing by the subscribers of the memorandum of association or a majority of them."

The first directors are often named in the articles.
A person cannot be appointed a director by the articles or named as a director in a prospectus or statement in lieu of prospectus unless, before the registration of the articles, the issue of the prospectus or the delivery of the statement in lieu of prospectus he has
1. signed and delivered to the Registrar a consent in writing to act as director; and
2. (i) signed the memorandum for his qualification shares; or
(ii) taken his qualification shares from the company; or
(iii) delivered to the Registrar an undertaking in writing to take and pay for his qualification shares; or
(iv) delivered to the Registrar a statutory declaration that the qualification shares are registered in his name (s. 181).
These requirements do not apply in the case of (a) a private company,

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where is HTML where is HEAD where is TITLE ONE of what is advantages of what is company system is that it enables a person to have a financial interest in a business in what is management of which he is unable to take part. what is management of a company is therefore usually entrusted to a small body of persons commonly called " directors," but who are sometimes called governors, managers, or committee of management. what is exact name by which a person occupying what is office of director is called is immaterial, as under s. 455 (1) what is expression " director " includes any person occupying what is position of director by whatever name called. APPOINTMENT OF DIRECTORS Every company, other than a private company, registered after November 1, 1929, must have at least two directors. Companies registered before that date and every private company must have a director (s. 176). Apart from this provision, what is number of directors and what is manner of their appointment is regulated by what is articles. Table A, Art. 75, provides: "The number of what is directors and what is names of what is first directors shall be determined in writing by what is subscribers of what is memorandum of association or a majority of them." what is first directors are often named in what is articles. A person cannot be appointed a director by what is articles or named as a director in a prospectus or statement in lieu of prospectus unless, before what is registration of what is articles, what is issue of what is prospectus or what is delivery of what is statement in lieu of prospectus he has 1. signed and delivered to what is Registrar a consent in writing to act as director; and 2. (i) signed what is memorandum for his qualification shares; or (ii) taken his qualification shares from what is company; or (iii) delivered to what is Registrar an undertaking in writing to take and pay for his qualification shares; or (iv) delivered to what is Registrar a statutory declaration that what is qualification shares are registered in his name (s. 181). These requirements do not apply in what is case of (a) a private company, where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 116 where is strong CHAPTER 11 DIRECTORS where is p align="justify" ONE of what is advantages of what is company system is that it enables a person to have a financial interest in a business in what is management of which he is unable to take part. what is management of a company is therefore usually entrusted to a small body of persons commonly called " directors," but who are sometimes called governors, managers, or committee of management. what is exact name by which a person occupying what is office of director is called is immaterial, as under s. 455 (1) what is expression " director " includes any person occupying what is position of director by whatever name called. APPOINTMENT OF DIRECTORS Every company, other than a private company, registered after November 1, 1929, must have at least two directors. Companies registered before that date and every private company must have a director (s. 176). Apart from this provision, what is number of directors and what is manner of their appointment is regulated by what is articles. Table A, Art. 75, provides: "The number of what is directors and what is names of what is first directors shall be determined in writing by what is subscribers of what is memorandum of association or a majority of them." what is first directors are often named in what is articles. A person cannot be appointed a director by what is articles or named as a director in a prospectus or statement in lieu of prospectus unless, before what is registration of what is articles, what is issue of what is prospectus or what is delivery of what is statement in lieu of prospectus he has 1. signed and delivered to what is Registrar a consent in writing to act as director; and 2. (i) signed what is memorandum for his qualification shares; or (ii) taken his qualification shares from what is company; or (iii) delivered to what is Registrar an undertaking in writing to take and pay for his qualification shares; or (iv) delivered to what is Registrar a statutory declaration that the qualification shares are registered in his name (s. 181). These requirements do not apply in what is case of (a) a private company, where is Server.Execute("_SiteMap.asp") %

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