Form with which an individual may formally accept an appointment as a corporate officer or representative.
Resolution For Appointment Of Executive Director In Mecklenburg
Category:
State:
Multi-State
County:
Mecklenburg
Control #:
US-0001-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Most commonly, directors are appointed by the shareholders at the Annual General Meeting (AGM), or in extreme circumstances, at an Extraordinary General Meeting (EGM). A resolution for the appointment is put to a vote, and passed if a majority of shares are voted in favour.
MGT-14 is required for appointment including re-appointment of MD and variation in the terms and conditions of appointment of MD. Variation includes increase or decrease in remuneration also.
Some companies may decide to ask their shareholders to approve any decision to appoint a new director. In this case, a general meeting of shareholders will need to be called, and an ordinary resolution will be put to the vote. A majority of votes will be required to confirm approval of the choice of director.
Therefore, the appointment of a managing director or whole-time director or manager and the terms and conditions of such appointment and remuneration payable thereon must be first approved by the Board of directors at a meeting and then by an ordinary resolution passed at a general meeting of the company.
The company should hold a general meeting at the time and date fixed in the board meeting and obtain shareholders' approval for the appointment of the managing director through a resolution.
Passing ordinary resolutions within a company is governed by the Companies Act, of 2013. Section 114 of the Act specifies the matters requiring ordinary resolutions and include the appointment of directors, approval of financial statements, declaration of dividends, and so on.
Appointment of an Executive Director Only a person of age twenty-one and above and who has not attained the age of seventy is allowed to be appointed as an executive director under section 196 of the act. However, a person who has attained the age of seventy can still be appointed by passing a special resolution.
Board Resolution Template for Appointing a New Director Director Name), having signified his/her consent by filing Form DIR-2 if appointed, to act as a Director of the Company, is hereby appointed as an additional director of the Company. To give effect to this resolution, Mr.
