TMI BlogVacation of office by directors.X X X X Extracts X X X X X X X X Extracts X X X X ..... ses to hold, the share qualification, if any, required of him by the articles of the company; (b) he is found to be of unsound mind by a Court of competent jurisdiction; (c) he applies to be adjudicated an insolvent; (d) he is adjudged an insolvent; [2] [(e) he is convicted by a Court of any offence involving moral turpitude and sentenced in respect thereof to impris ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts a loan, or any guarantee or security for a loan, from the company in contravention of section 295; (i) he acts in contravention of section 299; (j) he becomes disqualified by an order of Court under section 203; [5] [* ] (k) he is removed in pursuance of section 284; [6] [or] (l) having been appointed a director by virtue of his holding any office or other em ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or petition, if allowed, would result in the removal of the disqualification, until such further appeal or petition is disposed of. [9] [(2A) Subject to the provisions of sub-sections (1) and (2), if a person functions as a director when he knows that the office of director held by him has become vacant on account of any of the disqualifications, specified in the several clauses of sub-secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 960, Act 65 of 1960, section 95, for "he, or any firm in which". [5] The word "or" omitted by the Companies (Amendment) Act, 1960, Act, 65 of 1960, section 95, [6] Inserted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 95. [7] Omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000, as provisions relating to managing agents, etc. had become redundant after a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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