Section 298 - Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc. - Companies Act, 1956

Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc. [1] [298. Omitted by the Companies (Amendment) Act, 2000 as provisions relating to managing agents, etc. had become redundant after abolition of system by Act 17 of 1969.] --------------------------------------------------- Notes: [1] Prior to its omission, section 298, as amended by the Companies (Amendment) Act, 1960, Act, 65 of 1960, read as under: 298 Power of directors to carry on business when managing agent of secretaries and treasures are deemed to have vacated office, etc. ____ Where in pursuance of any provisions contained in this Act, the managing agent or secretaries and treasures of a company are deemed to have vacated or to have been suspended from office, or are removed or suspended from office, or cease to act or to be entitled to act as managing agent or secretaries and treasure, or where a permanent or temporary vacancy has otherwise occurred in the office of managing agent or secretaries and treasures, then the Board of directors shall have power to carry on, or arrange for the carrying on of, the affairs of the company until the managing agent or secretaries and treasures again become entitled to act as such, or until the company in general meeting resolve otherwise.