c7 Flashcards
how does a director come into office?
director - on incorporation or subsequently
appointed by:
-existing directors
-ordinary resolution
how does a director come into office? + define
de factor director
anyone who acts as a director
not validly appointed as one
same powers as a properly appointed director
how does a director come into office? + define
alternate director
articles usually say that: a director may appoint an alternate director to attend and vote at board meetings which he himself is unable to attend
how does a director come into office? + define
executive director
a director who is charged with performing a specific role
ie finance director
usually an ee of the company
how does a director come into office? + define
non executive director
a director who does not have a particular function but generally just attends board meetings
corp gov
chair of board meetings: NED
chairman of board meetings - what type of director?
non executive director
how does a director come into office? + define
managing director
charged with carrying out day-to-day mgmt functions
run business!
articles usually provided for the directors to appoint one or more of the directors to be a managing director
how old does a director have to be?
16 or older
how many directors does a co need (at least)?
ltd - 1
plc - 2
what if a directors appointment is subsequently found to have been defective or void? are his actions still valid?
yes
can a sole director be a director and a secretary?
yes
removal of a director : ordinary or special
ordinary
