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Question

State the following statement is True or False:
The share qualification of the directors of a joint stock company is prescribed in Articles of Association.

A
True
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B
False
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Solution

The correct option is A True
Generally, in a public company or a private company subsidiary of a public company, two-thirds of the total numbers of Directors are appointed by the shareholders and the remaining one-third is appointed in accordance with the manner prescribed in Articles failing which, the remaining one-third of the Directors must be appointed by the shareholders. The Articles of a public company or a private company subsidiary of a public company may provide for the retirement of all the Directors at every annual general meeting.

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