Section 164: Nominee directors
The Companies Act, 2017 · Federal Acts · in_force
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164. Nominee directors.—(1) In addition to the directors elected or deemed to have been elected by shareholders, a company may have directors nominated by the company's creditors or other special interests by virtue of contractual arrangements. (2) A body corporate or corporation owned or controlled by the Federal Government or as the case may be, a Provincial Government may also have directors nominated on the board to whom such corporation or company has extended credit facilities.
Effective date: 2017-05-30
Related sections
Section 163: Removal of directorsSection 165: Certain provisions not to apply to directors representing special interestsSection 162: Fresh election of directorsSection 166: Manner of selection of independent directors and maintenance of databank ofSection 161: Term of office of directorsSection 167: Consent to act as director to be filed with company
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