May 19th, 2015
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American Commercial College - Abilene
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4COMPANY MANAGEMENT4.1IntroductionA company, being an artificial person, cannot manage its own affairs. It is therefore not surprising to find that the articles of every registered company have provisions regarding the delegation of powers pertaining to the company's management. For example, Table A, Article 80 provides that "the business of the company shall be managed by the directors".4.2Numbers of DirectorsS.177 provides that every company (other than a private company) shall have at least two directors, and every private company shall have at least one director. Under Table A, Article 75 the actual number of the directors would initially be decided upon by the subscribers of the memorandum, or a majority of them, and until so determined the signatories to the memorandum of association shall be the first directors. Table A, Article 94 empowers the company from time to time by ordinary resolution to increase or reduce the number of its directors.4.3Appointment of DirectorsIn the absence of other provisions in a company's articles, the directors of the company would be appointed in accordance with the following provisions of Table A.4.3.1First DirectorsThe names of the first directors shall be decided in writing by the subscribers of the memorandum of association or a majority of them. If there is a deadlock, all the signatories to the memorandum of association shall be the company's first directors.4.3.2Subsequent DirectorsThe subse

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