Appointment of first chief executive.

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Appointment of first chief executive.

Unread postby Admin » Thu Sep 27, 2012 1:38 pm

Appointment of first chief executive. -

(1) Every company other than a company managed by a managing agent, shall have a executive appointed in the manner provided in this section and section 199.

(2) The directors of every company shall as from the date from which it commences business or as from a date not later than the fifteenth day the date of its incorporation, whichever is earlier, appoint any individual be the chief executive of the company.

(3) The chief executive appointed as aforesaid shall, unless he earlier resigns or otherwise cases to hold office, hold office up to the first annual general meeting of the company or, if a shorter period is fixed by the directors as the time of his appointment, for such period.
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