The Pamphlet Collection of Sir Robert Stout: Volume 88
Rotation of Directors
Rotation of Directors.
62. At the second ordinary meeting after the
incorporation of the Company, which shall be deemed to be the first annual meeting, and at the annual meeting in every following year one-third of the Directors for the time being, or, if their number is not a multiple of three, then the number nearest to one-third shall retire from office. Provided that the first Board of Directors shall hold office for at least one year from the date of the incorporation of the Company.
Retirement of Directors.
63. The one-third or nearest number to retire
during the first and second years ensuing the incorporation of the Company shall, unless the Directors agree among themselves, be determined by ballot, to be taken at a Board meeting, not less than one month prior to the next date of meeting for election of Directors. In any subsequent year the one-third or other nearest number who have been longest in office shall retire.
Method of retirement of Directors.
64. A retiring Director shall be re-eligible
without notice.
Retiring Director re-elidible without notice.
Election of Directors.
If Directors not elected, Board may appoint.
Notice of proposal for election as Director.
Increase or reduction of number of Directors.
Casual vacancy in Board of Directors.