alleryStart learning →The deposit rule of s.160(1) does not apply to whom?
AA managing director
BA promoter director
CAn independent director
DA nominee director
Answer & Solution
Correct answer: C. An independent director
The proviso exempts an independent director, and one recommended by the NRC or Board, from the deposit.
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Related questions
A removed director cannot later be re-appointed by whom (s.169(7))?A resolution to remove a director under s.169 requires what?Which director can the company not remove under s.169(1)?A company removes a director before term end by which resolution (s.169(1))?After resigning, a director stays liable for offences during?A resignation takes effect on which date (s.168(2))?Time to send reasons of resignation to Registrar (s.168(1) proviso)?How does a director resign under s.168(1)?