Thanks to visit codestin.com
Credit goes to www.scribd.com

Scribd
Upload
22 views1 page

13 Assignment of Office

Uploaded by

bruce lee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
22 views1 page

13 Assignment of Office

Uploaded by

bruce lee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

Section 174

Assignment of office is not VALID

Prohibition on assignment of office by directors;

A director of any company shall not assign his office to any other
person and any such appointment shall be void ab-initio.

Notwithstanding anything contained in sub-section (1),


The appointment by a director, with the approval of the board, of
an alternate or substitute director to act for him during his absence
from Pakistan of not less than ninety days, shall not be deemed to
be an assignment of office. (It means that it is allowed)

The alternate director appointed under sub-section (2) shall ipso


facto vacate office if and when the director appointing him returns
to Pakistan.

You might also like