For instance because all directors have resigned and the shareholders have failed to reappoint new ones.
2007-03-25 20:59:49 · 8 answers · asked by Anonymous in Business & Finance ➔ Corporations
Its quite likely that some shareholders are directors. However there maybe a shareholder or another person who is an officer of the company (Company Secretary, in the UK this is at the same or even higher level than a director) may take over control.
In due course the companies registrar could act to wind up (in terms of business registration) the company: However the company could still trade as unlimited.
The board would probably have had NON executive directors (senior or majority shareholders for example)
2007-03-25 21:16:58 · answer #1 · answered by John B 4 · 2⤊ 0⤋
Under UK company law there must be two executives; one director and one company secretary. If you do not fulfil this rule the company can be struck-off.
A pressing question should be why on earth did all the directors resign??? Maybe they know something the shareholders don't!
2007-03-26 04:15:33 · answer #2 · answered by mdw 2 · 0⤊ 0⤋
The company will need for conform to the local laws. Failing which the company may be liable for a fine or penalty based on the local legislation.
2007-03-26 04:07:00 · answer #3 · answered by SGElite 7 · 1⤊ 0⤋
Your company must have directors. If you do not select them within a month(in many countries), the company registration bureau might deregister your company--whether a private or public company. You must have at least one director, most likely one who is resident in the country you are doing business in.
2007-03-26 04:04:15 · answer #4 · answered by Muga Wa Kabbz 5 · 1⤊ 0⤋
easy days every day for the workers!!
well known fact that when md's are out workers slack! internet shopping, chat sites etc!! its great... every company should not have them!
2007-03-26 04:04:06 · answer #5 · answered by Conkys Mummy 2 · 0⤊ 1⤋
then its no longer a company
2007-03-26 05:05:45 · answer #6 · answered by kate d 2 · 0⤊ 0⤋
can sum that up in one word, problems.
2007-03-26 04:03:43 · answer #7 · answered by mamgu....... 6 · 1⤊ 0⤋
It will get alot more done.
2007-03-26 04:04:06 · answer #8 · answered by up all night 4 · 0⤊ 1⤋