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StatuteCompanies Act 1993

Section 155 — Companies Act 1993: Appointment of directors to be voted on individually

Text of the provision Official document

155 Appointment of directors to be voted on individually (1) Subject to the constitution of the company, the shareholders of a company may vote on a resolution to appoint a director of the company only if— (a) The resolution is for the appointment of one director; or (b) The resolution is a single resolution for the appointment of 2 or more persons as directors of the company and a separate resolution that it be so voted on has first been passed without a vote being cast against it. (2) A resolution moved in contravention of subsection (1) of this section is void even though the moving of it was not objected to at the time. (3) Subsection (2) of this section does not limit the operation of section 158 of this Act. (4) No provision for the automatic reappointment of retiring directors in default of another appointment applies on the passing of a resolution in contravention of subsection (1) of this section. (5) Nothing in this section prevents the election of 2 or more directors by ballot or poll.

Official source: legislation.govt.nz

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