Appointing and Removing Directors

Question 1

Three types of director

Answer 1

de jure, de facto, shadow

Question 2

minimum number of directors and secretaries for private companies

Answer 2

1 and 0

Question 3

minimum number of directors and secretaries for public companies

Answer 3

2 and 1

Question 4

How many directors must be a natural person

Answer 4

1

Question 5

Definition of shadow director

Answer 5

Someone who doesn’t hold themselves out as director but the company is accustomed to following instructions form

Question 6

Requirement to be a secretary

Answer 6

requisite knowledge and experience + specified qualification

Question 7

Who is responsible for ensuring the secretary fits the bill

Answer 7

Directors

Question 8

Two ways to appoint a director

Answer 8

Ordinary Resolution / Board Resolution

Question 9

Who approves short-term service contracts and decides the terms

Answer 9

BM

Question 10

Accessibility of directors register

Answer 10

Kept at registered office; open to any member; open to public for a fee

Question 11

Director information on company register

Answer 11

Name, Service Address, Residential Country, Nationality, Business Occupation, Birthdate

Question 12

Director financial information in annual account

Answer 12

Salaries, bonuses, pension, compensation for loss of office

Question 13

4 Ways to Remove a Director

Answer 13

Shareholders, Resignation, Automatic Termination, Rotation (public only)

Question 14

3 Grounds for Automatic Termination

Answer 14

Disqualification, Bankruptcy/IVA; Medical Incapacity