Appointment Of Directors
To facilitate the ease of doing business by allowing private companies to have only one director and retaining the requirement for public companies to have at least two directors to safeguard the interest of the public.
Definition of Director to include Shadow Directors
Resignation, Retirement, Re-Election And Vacation
Resignation, vacation or death of sole director or remaining director(s)
To ensure that the affairs of companies without the requisite number of directors are addressed.
Removal of Directors
- The provisions relating to the removal of Directors are retained.
Disqualification Of Directors
To provide criteria for disqualification to act as directors including due to conviction of offences relating to bribery, habitual contravention of the Act