The Companies and Allied Matters Act 1990 allows Directors to regulate their meetings as they please, with a proviso that the first Board meeting must be held within six (6) months of the incorporation of a company. In addition, the Articles of Association and Board Charter may contain provisions regulating the convention of meetings (frequency, […]
Directors hold office subject to removal or retirement by rotation. Section 259 of the Companies and Allied Matters Act 1990 (“CAMA”) requires all the directors of a company to retire at the first AGM, while one- third of the directors are obliged to retire at subsequent AGMs (unless otherwise provided in the Articles). With increasing […]
Directors are sometimes requested to sign waivers of notice, where a meeting of the Board of Directors has been convened with less than the statutory minimum notice. Are these waivers valid? Section 266 of CAMA provides as follows: (1) Every director shall be entitled to receive notice of the directors’ meetings, unless he is disqualified […]