Statutory Corporations (Modifications, etc.) Act

Arrangement of Sections

1. ber but not the chairman of the board.

2. [Cap. N129.j

4. rector of the company.

An Act to effect a reconstitution of the board of the statutory corporations affected

to redesignate the chief executive as managing director who shall be a full mem-

ber but not the chairman of the board.

[1985 No. 14.]

[29 th M ay, 1985]

[Comrnencernent.]

ber but not the chairman of the board.

1. Statutory corporations, etc., affected

mentioned in the Schedule to this Act (in this Act individually referred to as “corporation

affected”) shall operate and have effect subject to this Act; and where constituted under

any special enactment, that enactment shall be affected by this Act and be deemed to

have been amended to the extent necessary to give effect hereto.

[Schedule.]

tion Act shall have effect subject to this Act.

[Cap. N129.j

[Cap. N129.j

2. Redesignation of chief executive and minor modification of the boards of corpo-

rations affected

shall on the making of this Act, be known and referred to as the managing director of that corporation.

corporation and shall be responsible to the board for the implementation of the policy

decisions of the board and for the day-to-day running of the affairs of the corporation

affected.

tion and shall have full power to take part as a member of the board in the deliberations

of the board of that corporation, shall count towards the quorum and shall have a vote

with respect to anything falling to be decided by vote at any meeting of the board.

in the first instance and renewable for one further period of four years only:

Provided that for the purposes of this subsection, the number of years during which

any person who, at the date of the making of this Act, was the managing director of a