Age limit of Directors in case of public company is ______a)65b)70c)75...
Age limit of Directors in case of Public Company
Age limit for directors in a public company is an important consideration as it ensures that the board is constantly refreshed and capable of making effective decisions. The age limit is determined by the Companies Act, 2013.
The correct answer to the question is option 'A' which is 65.
Section 149(6) of the Companies Act, 2013 stipulates that the maximum age limit for a director in a public company is 70 years. However, the Companies Act also specifies that a person who has attained the age of 70 years can continue to be a director of a public company if he/she is re-appointed by a special resolution passed by the company in a general meeting.
The Companies Act, 2013 also stipulates that the age limit for a managing director or whole-time director of a public company is 70 years. However, a person who has attained the age of 70 years can continue to hold office as a managing director or whole-time director if the company passes a special resolution to that effect.
It is important to note that the age limit for directors in a private company is not specified by the Companies Act, 2013. Private companies have the flexibility to set their own age limit for directors.
In conclusion, the age limit for directors in a public company is 70 years, but they can continue to serve on the board if they are re-appointed by a special resolution. The age limit for managing directors or whole-time directors is also 70 years, but they can continue to hold office if a special resolution is passed.
Age limit of Directors in case of public company is ______a)65b)70c)75...
A