1 / 1

Procedures for the Removal of Directors and Related Rights

This document outlines the procedures a company must follow to remove a director before the end of their term. It includes the requirement for special notice for a proposed resolution to remove a director and stipulates that the involved director has the right to be heard at the meeting. Furthermore, if the director makes representations regarding their removal, the company must send copies to all members, unless the court determines that these rights are being abused. Additionally, the document clarifies that this section does not deprive directors of any compensatory rights or other powers to remove directors.

daryl
Télécharger la présentation

Procedures for the Removal of Directors and Related Rights

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 220.   Removal of directors and procedures in regard thereto.—(1)  (a)  A company may, [1…] [2…] remove a director before the expiration of his period of office. (b)  … (2)  Special notice shall be lodged [3…] with the company of any proposed resolution to remove a director …, and, on receipt of notice of such a proposed resolution, the company shall … deliver a copy thereof to the director concerned who shall,…, be entitled to be heard on the proposed resolution at the meeting. (3)  Where … the director concerned makes representations … the company shall, …— (a) … (b) send a copy of the representations to every member of the company … (4)   … (5)  No copy of such representations shall be sent out … if, … the Court is satisfied that the rights conferred by this section are being abused …. (6)  ... (7)  Nothing in this section shall be construed as depriving a [4…] (director) … of compensation or damages … or as derogating from any power to remove a director which may exist apart from this section.[5]

More Related