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Compensation to certain stockholders' directors.
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42.—(1) The Company shall pay to any person who is, immediately before the ordinary meeting of the Company to be held in 1945, a stockholders' director and who resigns his office not later than seven days after that meeting a sum equal to—
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(a) in case he was a director of one dissolved company only, the fees received by him as director of that dissolved company during the appointed period.
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(b) in case he was a director of both the dissolved companies, the fees received by him as director of each of the dissolved companies during the appointed period.
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(2) The Company shall pay to any person who—
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(a) was a director of both the dissolved companies, and
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(b) is a stockholders' director immediately before the ordinary meeting of the Company to be held in 1945, and
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(c) does not resign his office as a stockholders' director within seven days after that meeting,
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a sum equal to the fees received by him as a director of the dissolved transport company during the appointed period.
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(3) Where a person was, immediately before the establishment date, the managing director of the dissolved transport company, then, in calculating for the purposes of this section the fees received by him as director of the said company during the appointed period, no account shall be taken of the remuneration payable to him during the appointed period as managing director.
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(4) In this section, the expression “the appointed period” means the period of two years expiring on the day before the establishment date.
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