156
CAP. 32]
Companies
[1984 Ed.
Restriction on body corporate being director.
(6 of 1984.) {31.8.84]
Avoidance of acts done by person in dual capacity as director and secretary.
1948 c. 38, s. 179.
Qualification of director.
1929 c. 23. s. 141
deputy secretary or, if there is no assistant or deputy secretary capable of acting, by or to any officer of the company authorized generally or specially in that behalf by the directors.
(Replaced, 6 of 1984, s. 109)
154A. (1) A company shall not, after the expiration of 6 months from the commencement* of the Companies (Amendment) Ordinance 1984, have as director of the company a body corporate.
(2) This section shall not apply to a private company excepted under subsection (3).
(3) A private company is excepted under this subsection if, but only if, it is not a member of a group of companies of which a listed company is a member; and for the purposes of this subsection "listed company" means a company in the case of which shares are listed on a recognized stock exchange.
(4) A body corporate which, at the commencement of the Companies (Amendment) Ordinance 1984, is a director of a company other than a private company excepted under subsection (3) shall, if it has not vacated its office as such director within a period of 6 months thereafter, be deemed to have done so upon the expiration of that period, and all acts or things purporting to be made or done after the expiration of that period by a body corporate as director of any such company shall be null and void.
(Added, 6 of 1984, s. 110)
154B. A provision requiring or authorizing a thing to be done by or to a director and the secretary shall not be satisfied by its being done by or to the same person acting both as director and as, or in place of, the secretary.
(Added, 6 of 1984, s. 110)
155. (1) It shall be the duty of every director who is by the articles of the company required to hold a specified share qualification, and who is not already qualified, to obtain his qualification within 2 months after his appointment, or such shorter time as may be fixed by the articles. (Amended, 6 of 1984, s. 111)
(2) For the purpose of any provision in the articles requiring a director to hold a specified share qualification, the bearer of a share warrant shall not be deemed to be the holder of the shares specified in the warrant. (Amended, 6 of 1984, s. 111)
(3) The office of director of a company shall be vacated if the director does not within 2 months from the date of his appointment, or within such shorter time as may be fixed by the articles, obtain his qualification, or if after the expiration of the said period or shorter time he ceases at any time to hold his qualification.
(4) A person vacating office under this section shall be incapable of being re-appointed director of the company until he has obtained his qualification.
156
CAP. 32]
Companies
[1984 Ed.
Restriction on body corporate being director.
(6 of 1984.) {"31.8.84]
Avoidance of acts done by person in dual capacity as director and secretary.
1948 c. 38, s. 179.
Qualification of director.
1929 c. 23. s. 141
deputy secretary or, if there is no assistant or deputy secretary capable of acting, by or to any officer of the company authorized generally or specially in that behalf by the directors.
(Replaced, 6 of 1984, s. 109)
154A. (1) A company shall not, after the expiration of 6 months from the commencement* of the Companies (Amendment) Ordinance 1984, have as director of the company a body corporate.
(2) This section shall not apply to a private company excepted under subsection (3).
(3) A private company is excepted under this subsection if, but only if, it is not a member of a group of companies of which a listed company is a member; and for the purposes of this subsection "listed company" means a company in the case of which shares are listed on a recognized stock exchange.
(4) A body corporate which, at the commencement of the Companies (Amendment) Ordinance 1984, is a director of a com- pany other than a private company excepted under subsection (3) shall, if it has not vacated its office as such director within a period of 6 months thereafter, be deemed to have done so upon the expiration of that period, and all acts or things purporting to be made or done after the expiration of that period by a body corporate as director of any such company shall be null and void.
(Added, 6 of 1984, s. 110)
154B. A provision requiring or authorizing a thing to be done by or to a director and the secretary shall not be satisfied by its being done by or to the same person acting both as director and as, or in place of, the secretary.
( Added, 6 of 1984, s. 110)
155. (1) It shall be the duty of every director who is by the articles of the company required to hold a specified share qualifica- tion, and who is not already qualified, to obtain his qualification within 2 months after his appointment, or such shorter time as may be fixed by the articles. (Amended, 6 of 1984, s. 111)
(2) For the purpose of any provision in the articles requiring a director to hold a specified share qualification, the bearer of a share warrant shall not be deemed to be the holder of the shares specified in the warrant. ( Amended, 6 of 1984, s. 111)
(3) The office of director of a company shall be vacated if the director does not within 2 months from the date of his appointment, or within such shorter time as may be fixed by the articles, obtain his qualification, or if after the expiration of the said period or shorter time he ceases at any time to hold his qualification.
(4) A person vacating office under this section shall be incapable of being re-appointed director of the company until he has obtained his qualification.
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