Company Directors
Formation of a public limited company requires a minimum of two directors (differing from country to country: in India three directors are required). In general terms anyone can be a company director, provided they are not disqualified on one of the following grounds:
- in the case of "plc's" or their subsidiaries, the person is over 70 years of age or reaches 70 years of age while in office, unless they are appointed or re-appointed by resolution of the company in general meeting of which special notice has been given.
- the person is a discharged bankrupt, or disqualified by a Court from holding a directorship, unless given leave to act in respect of a particular company or companies.
- in England and Wales (as of October 2008; Companies Act 2006) and in Scotland (Age of Legal Capacity (Scotland) Act 1991), the male/female is under 16 years old.
Some people who are not British or European Union citizens are restricted as to what work they may do while in the UK, which may exclude them from being a director.
Read more about this topic: Public Limited Company
Famous quotes containing the word company:
“... possibly there is no needful occupation which is wholly unbeautiful. The beauty of work depends upon the way we meet it—whether we arm ourselves each morning to attack it as an enemy that must be vanquished before night comes, or whether we open our eyes with the sunrise to welcome it as an approaching friend who will keep us delightful company all day, and who will make us feel, at evening, that the day was well worth its fatigues.”
—Lucy Larcom (1824–1893)