Q&As

How can a new director be appointed where the sole director and shareholder of a company loses capacity and did not appoint an attorney?

read titleRead full title
Published on LexisPSL on 14/08/2017

The following Corporate Q&A provides comprehensive and up to date legal information covering:

  • How can a new director be appointed where the sole director and shareholder of a company loses capacity and did not appoint an attorney?

How can a new director be appointed where the sole director and shareholder of a company loses capacity and did not appoint an attorney?

It is assumed that the company is a private company limited by shares.

The appointment and termination of appointment of a director will be governed by the company’s articles of association. Where a sole director shareholder loses capacity, the company’s articles of association should be checked for any provisions that may set out what steps should be taken.

First, it will be necessary to determine whether or not the director shareholder has actually lost capacity. The model articles for companies limited by shares, Schedule 1 of para 18(d) to the Companies (Model Articles) Regulations 2008, SI 2008/3229 (SI 2008/3229, Sch 1, para 18(d)) provides that a person ceases to be a director as soon as a

Related documents:

Popular documents