Companies Act 2014
Vacation of office | ||
148. (1) In addition to the case provided by section 136 (share qualification of directors), the office of director shall be vacated if the director— | ||
(a) is adjudicated bankrupt or being a bankrupt has not obtained a certificate of discharge in the relevant jurisdiction; or | ||
(b) becomes or is deemed to be subject to a disqualification order within the meaning of Chapter 4 of Part 14 . | ||
(2) Save to the extent that the company's constitution provides otherwise, the office of director shall be vacated if— | ||
(a) the director resigns his or her office by notice in writing to the company; or | ||
(b) the health of the director is such that he or she can no longer be reasonably regarded as possessing an adequate decision making capacity; or | ||
(c) a declaration of restriction is made in relation to the director and the directors, at any time during the currency of the declaration, resolve that his or her office be vacated; or | ||
(d) the director is sentenced to a term of imprisonment following conviction of an indictable offence; or | ||
(e) the director is for more than 6 months absent, without the permission of the directors, from meetings of the directors held during that period. | ||
(3) In subsection (2)(d) the reference to a term of imprisonment includes a reference to such a term that is suspended. |