I want to about Re-appointment of Directors by Rotation system. Is there is any time frame for the re-appointment.
qualification shares
Page no : 2
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 30 April 2009
SECTION-270 (Q.S.)
Section-270 of Companies Act, 1956 talks about Qualification Shares. As per Section-270 every director is required to obtain qualification shares if Articles required him to take such shares.
In other words if Articles are silent about Q.S. then no requirement for a director to take Q.S.
Provisions relating to Qualification shares are not applicable to a Private Company as per section-273.
If a director fail to obtain Q.S. then it is a ground of vacation of office as per sectio-283(1)(a).
Regards
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