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Interpretation Of Company Law SEC 152 ( 6 )( d )

This query is : Resolved 

......but as between persons who became directors on the same day ,
those who are to retire shall ,
in default of and subject to any agreement among themselves ,
be determined by lot.

My question is that " be determined by lot " applies to

" in default Of "

or " subject to any agreement among themselves "

or both .

My interpretation is this that " be determined by lot " applies to both i.e.

-- in default of any agreement among themselves ,be determined by lot

--- subject to any agreement among themselves , be determined by lot

Because the word used in between " in default of " " subject to " is AND .

Most of the authors / teachers say that

-- "those who are to retire shall , in default of any agreement among themselves. be determined by lots "

---"those who are to retire shall , be determined as per the agreement among themselves '

which in my opinion is not correct


Please interpret the section and express your views on this interpretation

Thanks








If there is an agreement to retire, drawing a lot is meaningless.
Therefore, teacher's view seems to be correct.

Sir if that is the case then why the word AND is being used in between " in default of AND subject to any agreement ...."

e.g. Apples AND Oranges are good for health .

In my opinion it can be written as -

1, Apples are good for health

2. Oranges are good for health

because the word used in between apples and oranges is AND

I know i am doing hair spliting but i am not convinced of their views

thanks


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