764

SECRETARIAL PRACTICE
Divectors.
29. The number of directors and the names of the first directors
shall be determined in writing bv a majority of the subscribers to the
memorandum.

30. The remuneration of the directors shall from time to time be
determined by the company in general meeting.

Powers and Duties of Directors.
31. The business of the company shall be managed by the directors,
who may pay all expenses incurred in getting up and registering the
company, and may exercise all such powers of the company as are
not, by the Act, or by these articles, required to be exercised by the
company in general meeting, subject nevertheless to any regulation
of these articles, to the provisions of the Act, and to such regulations,
being not inconsistent with the aforesaid regulations or provisions,
as may be prescribed by the company in general meeting, but no
regulation made by the company in general meeting shall invalidate
any prior act of the directors which would have been valid if that
regulation had not been made.

32. The directors shall cause minutes to be made in books provided
for the purpose—

(a) of all appointments of officers made by the directors;

(b) of the names of the directors present at each meeting of the
directors and of any committee of the directors;

«¢) of all resolutions and proceedings at all meetings of the
company, and of the directors, and of committees ot
directors;

and every director present at any meeting of directors or committee
of directors shall sign his name in a book to be kept for that purpose

The Seal.

33. The seal of the company shall not be affixed to any instrument
except by the authority of a resolution of the board of directors,
and in the presence of a director and of the secretary or such other
person as the directors may appoint for the purpose; and that
director and the secretary or other person as aforesaid shall sign
every instrument to which the seal of the company is so affixed in
their presence.
Disqualifications of Directors.
34. The office of director shall be vacated, if the director—

(a) without the consent of the company in general meeting holds
any other office of profit under the company; or

(b) becomes bankrupt; or -

(¢) becomes prohibited from being a director by reason of any
order made under sections 217 or 275 of the Act;

(d) is found lunatic or becomes of unsound mind: or