Section - 254 - Subscribers of memorandum deemed to be directors
Subscribers of memorandum deemed to be directors.254. In default of and subject to any regulations in the articles of a company, subscribers of the memorandum who are individuals, shall be deemed to be the directors of the company, until the directors are duly appointed in accordance with .
Appointment of directors and proportion of those who are to retire by rotation.255. (1) [Unless the articles provide for the retirement of all directors at every annual general meeting, not less than two-thirds] of the total number of directors of a public company, or of a private company which is a subsidiary of a public company, shall— (a) be persons whose period of office is liable to determination by retirement of directors by rotation; and (b) save as otherwise expressly provided in this Act, be appointed by the company in general meeting.< .... To read the full section download the app from Google Play store
CAclubindia
