Qualification shares for directors
This query is : Resolved
01 October 2012
In case of public limited company in its Article of Association there is no provision for qualification shares for directors. Now this company wants to amend its AOA and wants to insert the provision for the qualification shares. Now my question is that after the amendment what will be the status of directors who are not holding such qualification shares as at the time of their appointment there was no such requirement.
Whether such directors need to acquire qualification shares after the amendment in AOA and if yes, what will be the time limit within which they need to acquire such shares.
Whether such directors need to acquire qualification shares after the amendment in AOA and if yes, what will be the time limit within which they need to acquire such shares.
01 October 2012
Hi
When you are going to amend your Company's article of association by adding new clause qualification shares for director then i will suggest you to also mentioned that the existing director on of before such insertion are not required (or required) to take qualification shares.
Other views are also solicited.
When you are going to amend your Company's article of association by adding new clause qualification shares for director then i will suggest you to also mentioned that the existing director on of before such insertion are not required (or required) to take qualification shares.
Other views are also solicited.
01 October 2012
Agree with the views of Ajay ji...
However, in absence of above clarification lines, existing directors also require to obtain qualification shares as mentioned in the Articles.
However, in absence of above clarification lines, existing directors also require to obtain qualification shares as mentioned in the Articles.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
