Nomine Director

Question 1

Nominees

Answer 1

Nominee directors can be appointed through two different routes:

Nominated by Creditors
- Creditors or special interest groups can nominate directors based on contractual agreements.
Nominated by Government or Body Corporate
- A body corporate, company, Federal Government, or Provincial Government can nominate directors if they have invested in the company.
- These nominated directors are considered “deemed to have been elected directors” and are included in the minimum director count.
- They serve at the pleasure of the nominating body.
- The nominating body’s total votes are reduced proportionally to the votes required to elect the director if they had run independently. ¹