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Tamilnadu_VAT_ACT_2006
Section / Rule Number   Content   
 
252 Minimum number of directors
253 Only individuals to be directors
254 Subscribers of memorandum deemed to be directors
255 Appointment of directors and proportion of those who are to retire by rotation
256 Ascertainment of directors retiring by rotation and filling of vacancies
257 Right of persons other than retiring directors to stand for directorship
258 Right of company to increase or reduce the number of directors
259 Increase in number of directors to require government sanction
260 Additional directors
261 Certain persons not to be appointed directors, except by special resolution
262 Filling of casual vacancies among directors
263 Appointment of directors to be voted on individually
263A Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc.
264 Consent of candidate for directorship to be filed with the company and consent to act as director to be filed with the registrar
265 Option to company to adopt proportional representation for the appointment of directors
266 Restrictions on appointment or advertisement of director
267 Certain persons not to be appointed managing directors
268 Amendment of provision relating to managing, whole-time or non-rotational directors to require government approval
269 Appointment of managing or whole-time director or manager to require government approval only in certain cases
270 Time within which share qualification is to be obtained and maximum amount there of
271 Filing of declaration of share qualification by director
272 Penalty
273 Saving
274 Disqualifications of directors
275 No person to be a director of more than fifteen companies
276 Choice to be made by director of more than fifteen companies at commencement of act
277 Choice by person becoming director of more than fifteen companies after commencement of act
278 Exclusion of certain directorships for the purposes of sections 275, 276 and 277
279 Penalty
280 Age limit
281 Age limit not to apply if company so resolves
282 Duty of director to disclose age
283 Vacation of office by directors
284 Removal of directors
285 Board to meet at least once in every three calendar months
286 Notice of meetings
287 Quorum for meetings
288 Procedure where meeting adjourned for want of quorum
289 Passing of resolutions by circulation
290 Validity of acts of directors
291 General powers of board
292 Certain powers to be exercised by board only at meeting
292A Audit Committee
293 Restrictions on powers of board
293A Prohibitions and restrictions regarding political contributions
293B Power of board and other persons to make contributions to the national defence fund, etc
294 Appointment of sole selling agents to require approval of company in general meeting
294A Prohibition of payment of compensation to sole selling agents for loss of office in certain cases
294AA Power of central government to prohibit the appointment of soleselling agents in certain cases
295 Loans to directors, etc
296 Application of section 295 to book debts in certain cases
297 Board's sanction to be required for certain contracts in which particular directors are interested
298 Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc
299 Disclosure of interests by director
300 Interested director not to participate or vote in board's proceedings
301 Register of contracts, companies and firms in which directors are interested
302 Disclosure to members of director's interest in contract appointing manager, managing director
303 Register of directors, etc.
304 Inspection of the register
305 Duty of directors, etc., to make disclosure
306 Register to be kept by registrar and inspection thereof
307 Register of directors' shareholdings, etc
308 Duty of directors and persons deemed to be directors to make disclosure of shareholdings
309 Remuneration of directors
310 PROVISION FOR INCREASE IN REMUNERATION TO REQUIRE GOVERNMENT SANCTION
311 Increase in remuneration of managing director on re-appointment or appointment after act to require government sanction
312 Prohibition of assignment of office by director
313 Appointment and term of office of alternate directors
314 Director, etc., not to hold office or place of profit
315 Application of sections 316 and 317
316 Number of companies of which one person may be appointed managing director
317 Managing director not to be appointed for more than five years at a time
318 Compensation for loss of office not permissible except to managing or whole-time directors or to directors who are managers
319 Payment to director, etc., for loss of office etc., in connection with transfer of undertaking or property
320 Payment to director for loss of office, etc., in connection with transfer of shares
321 Provisions supplementary to sections 318, 319 and 320
322 Directors, etc., with unlimited liability in limited company
323 Special resolution of limited company making liability of directors, etc., unlimited
266A. Application for allotment of Director Identification Number
266B. Allotment of Director Identification Number
266C. Prohibition to obtain more than one Director Identification Number
266D.Obligation of director to intimate Director Identification Number to concerned company or companies
266E. Obligation of company to inform Director Identification Number to Registrar
266F. Obligation to indicate Director Identification Number
266G. Penalty for contravention of provisions of section 266A or section 266C or section 266D or section 266E
 
     
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