Section 1146.- It shall be the duty of the company to cause to be registered every new regulation, addition or alteration within fourteen days after the date of the special resolution.

 

Section 1147.- Ten printed copies of every new regulation or of the altered memorandum or regulations shall be deposited at the same time at the Registration Office.

 

Section 1148.- Every limited company must have a registered office to which all communications and notices may be addressed.

Notice of the situation of the registered office and of any change therein, shall be given to the Registrar of companies, who shall record the same.

 

Section 1149.- As long as the shares have not been fully paid up, the company may not print or mention the capital of the company in any notices, advertisements, bills, invoices, letters or other documents, without clearly mentioning at the same time what proportion of such capital has been paid up.

 

2. DIRECTORS

 

Section 1150.- The number and remuneration of the directors shall be fixed by a general meeting.

 

Section 1151.- A director can be appointed or removed only by general meeting.

 

Section 1152.- At the first ordinary meeting after the registration of the company and at the first ordinary meeting in every subsequent year a one-third of the directors, or, if their number is not multiple of there, then the number nearest to one-third must retire from office.

 

Section 1153.- Unless otherwise agreed by the directors between themselves, the directors to retire during the first and second years following the registration of the company shall be drawn by lots. In every subsequent year the directors who have been longest in office shall retire.

A retiring director is eligible for re-election.

 

Section 1153/1.- Any director who wishes to resign from his post shall tender his resignation letter to the company. The resignation shall take effect from the date that the resignation letter is received by the company.

The director who resigns under paragraph one hereof may notify the Registrar of his resignation.

 

Section 1154.- If a director becomes bankrupt or incapacitated, his office is vacated.

 

Section 1155.- Any vacancy occurring in the board of directors otherwise than by rotation may be filled up by the directors, but any person so appointed shall retain his office during such time only as the vacating director was entitled to retain the same.