Company Secretary and Compliance Officer
114788 Points
Joined January 2009
SECTION-270 (Q.S.)
Section-270 of Companies Act, 1956 talks about Qualification Shares. As per Section-270 every director is required to obtain qualification shares if Articles required him to take such shares.
In other words if Articles are silent about Q.S. then no requirement for a director to take Q.S.
Provisions relating to Qualification shares are not applicable to a Private Company as per section-273.
If a director fail to obtain Q.S. then it is a ground of vacation of office as per sectio-283(1)(a).
Regards