Appointment of Directors
1.Selection by Promoters:
The first directors of the company are selected by promoters. Their names are generally laid down in the articles of association. But their appointment cannot be valid unless they submit the following two declarations to the Registrar’s offices
- Written consent to act as directors
- An agreement in writing to take and pay for his qualification share.
- They foregoing provision does not apply to private company.
2. Appointed by the Subscribers:
If the articles are silent to describe the first directors of the company, thebsubscriber to the memorandum are to be deemed first directors of the company and subsequent directors are to be elected by shareholders in the general meeting.
3. Elected by Members:
The first directors of the company have to retire on the occasion of the first annual general meeting, so the necessary number of directors will be elected by member, in this meeting There after all such directors shall retire on the expiry of the term laid down section 180 in Companies Ordinance 1984 4.
4. Nomination by the Directors:
A casual vacancy is caused by death disqualification or resignation of directors. It may generally be filled up by the board of directors without the prior consent of the shareholders Such directors will hold office for the remainder of the term of the director in whose place he is appointed under section 180 in companies Ordinance 1984.
5. Nomination by Directors:
In addition to the directors elected or deemed to Dfa ho have been elected by shareholders a company may have directors or other special interests by virtue of contractual arrangements under section 182 in companies Ordinance 1984.
