Section 168,160,155,161

Question 1

Section 168

Answer 1

Here is the rewritten text in a polite and easy-to-understand format:

Declaration of Election Invalidity
Criteria for Appeal
Members holding at least 10% of the voting power in the company may appeal to the court to declare the election of all directors or one or more of them invalid.

Time Limit for Appeal
Such an appeal must be made within 30 days of the election date.

Court Decision
The court will declare the election invalid if it finds material irregularity in the election process or related matters.

Validity of Acts of Directors

Valid Acts: The actions taken by a person acting as a director are considered valid, even if:
+ There was a defect in their appointment
+ They were disqualified from holding office
+ They had ceased to hold office

Remedy for Defects: However, once a defect is noticed, the director must not exercise their powers until the issue is resolved.

Casual Vacancy

Filling the Vacancy: If a director position becomes vacant, the remaining directors can fill the vacancy by appointing a new director. The appointed director will serve for the remaining term of the original director.

No Obligation to Fill: However, if the company still has the minimum required number of directors after the vacancy, they are not obligated to fill the vacancy and can continue with the remaining directors.