The process of setting up a company is easy and the thought of ever separating never crosses the directors minds and hence most of them never care to come up with a strong agreement.
This process is often confusing to many and can lead to a serious breach of the law if not well executed.
Reasons for removal of a company director:
1. The Director voluntarily Resigns
2. The Director is Removed by Ordinary Resolution of Members
3. Removal by the Court oder.
4. The Director becomes of Unsound Mind.
5. Director is absent without permission for more than 6 months from meetings of Directors held during
that period.
6. The Director Dies.
7. The Company is Dissolved.
Procedure For the removal of a Company director
1. Fill in a Form of Transfer of Shares that is Filled and Signed by all the Concerned Parties.
2. Fill Form 203 A to show the Outgoing Directors.
3. Fill the Annual Returns form to show that Company returns have been made. The form should be Signed by one of the Directors.
4. Request for a CR12 letter by writing an Application letter to the Registrar of companies.
5. During the Annual General Meeting, the minutes must be signed by the Company Chairperson and the Company Secretary. The minutes should show clearly that the directors agreed to remove Directors.
7. In case a Director is leaving the Company, he/she should provide a Resignation Affidavit which can be in the form of Resignation letter.
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