Ltd Company - Two directors, One Shareholder - Rights of 2nd Director?

T

TTI

Registered User
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Hi,

If you setup a Ltd Company with two directors but only one shareholder, what rights does the second director have?
 
A director is appointed by the shareholder(s) to help run a company ie doesn't own any of the company. The shareholder(s) own the company and appoint/remove directors. A director who is not a shareholder has a right to do his/her duties until removed from being a director.
 
The rights and responsibilities of a director are specified under:

  1. Company Law
  2. Memorandum and Articles of Association of the company concerned
  3. The director's contract with the company
These are in descending order of importance AFAIK and there should (can?) never be conflict between them.
 
STEINER said:
A director is appointed by the shareholder(s) to help run a company ie doesn't own any of the company. The shareholder(s) own the company and appoint/remove directors. A director who is not a shareholder has a right to do his/her duties until removed from being a director.
Click to expand...

Excellent, simply put.
 
mathepac said:
The rights and responsibilities of a director are specified under:

  1. Company Law
  2. Memorandum and Articles of Association of the company concerned
  3. The director's contract with the company
These are in descending order of importance AFAIK and there should (can?) never be conflict between them.
Click to expand...

Thank you for the detail, I will research further.
 
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