Question
The constitution of New Wave Tunes Pty Ltd provides the following article: A director's term of appointment expires after 3 years from the date the
The constitution of New Wave Tunes Pty Ltd provides the following article:
"A director's term of appointment expires after 3 years from the date the director is appointed.At the end of the 3 years, the director is deemed to be terminated and must be re-appointed by the shareholders passing an ordinary resolution."
Mary was first appointed as a director of New Wave Tunes Pty Ltd on January 1, 2012.She has never been reappointed by the shareholders but has continued to act as a director.Which of the following is correct?
Select one:
a.Any act done by Mary after her initial term expired is invalid and ineffective because she was not validly re-appointed as a director.
b.Since Mary has been acting as a director while not been validly appointed, she will be deemed to be automatically disqualified from managing a corporation.
c.Mary will be deemed to be ade factodirector because she has not been validly appointed as a director but continues to act as a director.
d.Mary is not a director as she was not validly appointed after her initial term expired.
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