BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

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sole member/director of the company for any reason other than
his death.
114. (1) Subject to the memorandum or articles of a company, a director of the
company may be removed from office by resolution of the members of the
company.
(2) Subject to the memorandum and articles, a resolution under
subsection (1) may only be passed
(a) at a meeting of the members called for the purpose of
removing the director or for purposes including the removal of
the director; or
(b) by a written resolution passed by at least seventy five per cent
of the members of the company entitled to vote.
(3) The notice of a meeting called under subsection (2)(a) shall state that
the purpose of the meeting is, or the purposes of the meeting include,
the removal of director.
(4) Where permitted by the memorandum or articles of a company, a
director of the company may be removed from office by a resolution of
the directors.
(5) Subject to the memorandum and articles, subsections (2) and (3) apply
to a resolution of directors passed under subsection (4) with the
substitution, in subsection (2), of “directors” for “members”.
115. (1) A director of a company may resign his office by giving written notice
of his resignation to the company and the resignation has effect from the
date the notice is received by the company or from such later date as may
be specified in the notice.
(2) A director of a company shall resign forthwith if he is, or becomes,
disqualified to act as a director under section 111.
116. A director who vacates office remains liable under any provisions of this Act
that impose liabilities on a director in respect of any acts or omissions or
decisions made whilst he was a director.
117. The acts of a person as a director are valid notwithstanding that
(a) the person’s appointment as a director was defective; or
(b) the person is disqualified to act as a director under section 111.
AE/ET/Pub./bg/03.2007
Removal of
directors.
26/2005
26/2005
26/2005
12/2006
Resignation of
director.
26/2005
Liability of
former
directors.
Validity of acts
of director.