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The Pamphlet Collection of Sir Robert Stout: Volume 68

Rotation of Directors

Rotation of Directors.

82. At the ordinary general meeting to be held in the year 1889 the whole of the Directors shall retire from office but shall be eligible for re-election if qualified, and at every succeeding ordinary general meeting two of the Directors shall retire from office.

83. The two to retire at the ordinary meeting to be held in 1890 shall, unless the Directors agree among themselves, be determined by ballot. In every subsequent year the Directors who have been longest in office, since the last election or appointment, shall retire. As between two or more Directors who have been in office for the like period, the Directors to retire shall, in default of agreement between them, be selected by ballot.

84. A retiring Director shall be eligible for re-election.

85. The Company at any general meeting at which Directors [unclear: reti] in manner aforesaid, shall fill up the vacated offices by electing a like number of persons to be Directors.

86. If at any general meeting at which an election of a Director ought to take place, the place of the retiring Director is not filled up the retiring Director shall continue in office until the ordinary meeting in the next year, and so on from year to year until his place is filled A Director retiring by rotation at any general meeting shall be [unclear: dee] to continue in office until the close of the meeting.

87. The Company in general meeting may from time to time increase or reduce the number of Directors, and alter their qualifications, and may also determine in what rotation such increased [unclear: and] reduced number is to go out of office.

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88. The Company may by special resolution remove any Director before the expiration of his period of office, and appoint another person in his stead, and the person so appointed shall hold office during such time only as the Director in whose place he is appointed would have held the same if he had not been removed.

89. Any casual vacancy occurring among the Directors may be filed up by the Directors, but any person so chosen shall retain his office so long only as the vacating Director would have retained the same if no vacancy had occurred.

90. No person, not being a Director, shall, unless recommended by the Directors for election, be eligible as a Director at any general meeting, unless he or some other member intending to propose him has, at least seven clear days before the meeting, left at the office of the company a notice in writing under his hand, signifying his candidature for the office or the intention of some member to propose him.