Companies Act, 1956

Section - 266 - Restrictions on appointment or advertisement of director

Restrictions on appointment or advertisement of director.

266. (1) A person shall not be capable of being appointed director of a company by the articles, and shall not be named as a director or proposed director of a company in a prospectus issued by or on behalf of the company, or as proposed director of an intended company in a prospectus issued in relation to that intended company, or in a statement in lieu of prospectus filed with the Registrar by or on behalf of a company, unless, before the registration of the articles, the publication of the prospectus, or the filing of the statement in lieu of prospectus, as the case may be, he has, by himself or by his agent authorised in writing,—

         (a)  signed and filed with the Registrar a consent in writing to act as such director; and

         (b)  either—

      (i)  signed the memorandum for shares not being less in number or value than that of his qualification shares, if any; or

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