Changes in who manages the company.
WHAT APPOINTMENT REQUIRES
Authority per the constitution Consent of the person appointed A resolution Filing Updating the register
WHY CONSENT MATTERS
A person cannot be made a director without agreeing.
WHAT TO ESTABLISH BEFORE APPOINTING ANYONE
That they are eligible That they understand the duties and exposure
WHY EXPOSURE SPECIFICALLY
People accept directorships without knowing what they carry.
WHAT DISQUALIFIES A PERSON
Being under age, or otherwise disqualified by law or by a court.
WHAT TO ESTABLISH
Eligibility, before appointing.
WHAT RESIGNATION REQUIRES
Written notice to the company A resolution noting it Filing Updating the register
WHY FILING MATTERS
A director who has resigned but remains on the record can still be treated as one.
WHAT TO DO IF YOU RESIGN
Ensure the filing is made, and verify it.
WHY VERIFY
Companies fail to file resignations, deliberately or otherwise.
WHAT REMOVAL REQUIRES
Following the process in the constitution and the law.
WHY PROCESS MATTERS
Improper removal is challenged and reversed.
WHAT TO ADDRESS ON ANY DEPARTURE
Bank mandates and signatories Access to systems and premises Company property Guarantees given Any employment arrangement
WHY BANK MANDATES SPECIFICALLY
A former director remaining a signatory is a serious exposure.
WHAT TO DOCUMENT
The departure and what was settled.
