Section 63
of International Business Companies Order, 2000
Section 63
(1)
Every IBC shall have at least one person acting as a director and the first directors of an IBC shall be appointed by the registered agent named in the Memorandum; and, thereafter, the directors shall be elected by the members for such term as the members may
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
65
BLUV as at 20th June 2017
determine and, where the Memorandum or Articles so permit, the directors may also elect directors for such term as the directors may determine.
(2)
A person shall not be appointed or named as a director unless he has, by himself or by his agent authorised in writing for the purpose, signed a consent to act as a director.
(3)
Each director holds office until his successor takes office or until his earlier death, resignation or removal.
(4)
Subject to any relevant modification –
(a)
a director may be removed from office by a resolution of members or by a resolution of a three-quarters majority of directors entitled to receive notice of directors meeting and to vote; and
(b)
a director may resign his office by giving written notice of his resignation to the IBC, and a resignation has effect from the date the notice is received by the IBC or from such later date as may be specified in the notice.
(5)
Subject to any relevant modification, a vacancy on the board of directors may be filled by a resolution of members or of a majority of the remaining directors.
Appointment of secretary.