Please enable JavaScript.
Coggle requires JavaScript to display documents.
DIRECTOR OF A COMPANY (A), A company shall have a minimum number of…
-
- A company shall have a minimum number of directors
- In the case of private company, one director, or
- In the case of a public company, two directors
- SHAREHOLDERS/MEMBERS IN GENERAL MEETING
-
- Director is the person who manage the company
- Together with the managers and secretary, they are the “officers” of the company.
- Section 2 (1) of Companies Act
- Executive directors are full time employees of the company
- Their role is to carry out the day to day affair of the company business
- They are the senior management of the company
- A person who is not involved in the full time management of the company and is not an employee of the company
- He will attend meetings of the board of directors and meeting of those committees of the board to which he has been appointed.
- Some companies appoint their junior executives as associate directors
- Sometimes a director is appointed to represent the interests of a particular group of shareholders, employees, or creditors.
- These are persons appointed by directors to act in their seats at board meetings which they are unable to attend.
- The minimum number of directors shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia and shall not include an alternate or substitute director.
- A person named as a director in an application for incorporation of a company shall hold office as a director from the date of incorporation until that person ceases to hold office as a director in accordance with the Act.
- All subsequent directors of a company may be appointed by ordinary resolution.
- Subject to the constitution, the Board may, at any time appoint a director in addition to existing directors and the director so appointed shall hold office.
- A retiring director shall be eligible for re-election as if he is not disqualified under the Act.
- A director shall be a natural person who is at least eighteen years of age
- A person shall not be appointed as a director unless he has consented in writing and makes a declaration that he is not disqualified under the Act.