By virtue of Section 87(1) CAMA, A company shall act through its members in general meeting or its board of directors or through officers or agents, appointed by, or under authority derived from, the members in general meeting or the board of directors. We will be examining Directors and Secretary of a company as provided for by CAMA.
Section 269(1) CAMA provides that Directors of a company registered under this Act are persons duly appointed by the company to direct and manage the business of the company.
Appointment of directors: Section 271 – 274
Vacation of Office of a Director: Section 284 CAMA deals with the circumstances when the office of a director shall be vacated i.e.;
Prohibition under S. 280 – 281
Ceasure under S. 277 shareholding qualification
Appointment of First Directors:
These are directors appointed at the point of incorporation of the company by the SUBSCRIBERS. It is either
- Stated in writing by the subscribers of the memorandum of association or a majority of them
Appointment of Subsequent Directors
These are Directors appointed after the company is incorporated and while the company is operating in ordinary course of business.
The members at the annual general meeting shall have power to re-elect or reject directors and appoint new ones.-S. 248(1).