Made A Director Without Consent In King
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FAQ
A director may be removed by: An ordinary resolution adopted at a shareholders' meeting by the persons entitled to exercise voting rights in the election of that director.
Special notice is however required. On receipt of notice of an intended resolution to remove a Director, the company must send a copy of the notice to the Director concerned. The Director is entitled to be heard on the resolution at the meeting and it may be contested.
This is commonly known as a 'silent director'. While there is no general rule that prohibits this, it is important to understand the duties and obligations that arise if you have been appointed a director of a company.
The director is an employee of your company - Although a director may have a service contract as an employee, they can be removed without their consent under the provisions of the Companies Act.
As per the 2013 Act, the removal of a director can only take place during a general meeting through the approval of an ordinary resolution. Notably, this condition is applicable unless the director in question was appointed either through proportional representation or under section 163.
Shareholder Vote - In many jurisdictions, directors can be removed by a majority vote of the shareholders. If the company's bylaws allow, shareholders can call a meeting and vote to remove the director, even if they do not consent.
Who can be a director? Most people can hold a director position, but exceptions include anyone disqualified by the company's own Articles of Association, undischarged bankrupts, anyone disqualified by a court order and the company's auditor. Directors must be at least 16 years of age.
Although a minimum of a bachelor's degree is usually required to become a director, you may also need hands-on experience to fully understand what's required of a successful director. You can start gaining this experience by working as an assistant to directors, film editors and cinematographers.
