| Commentary

7 Vacation of office

| Commentary

7 Vacation of office

Articles of association usually contain provisions for the vacation of office by a director in certain events. For example, the model articles for private limited companies issued under the Companies Act 20061 provide that a person ceases to be a director as soon as1:

  1. 7.1

        he ceases to be a director by virtue of any provision of the Companies Act 2006, or is prohibited from being a director by law (for example, by becoming subject to a disqualification order);

  2. 7.2

        a bankruptcy order is made against him2;

  3. 7.3

        he makes a composition with his creditors generally

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