SCHEDULES
C1SCHEDULE 6Meaning of “subsidiary” etc: supplementary provisions
Annotations:
Modifications etc. (not altering text)
Right to appoint or remove a majority of the directors
I13
1
In section 1159(1)(b) the reference to the right to appoint or remove a majority of the board of directors is to the right to appoint or remove directors holding a majority of the voting rights at meetings of the board on all, or substantially all, matters.
2
A company shall be treated as having the right to appoint to a directorship if—
a
a person's appointment to it follows necessarily from his appointment as director of the company, or
b
the directorship is held by the company itself.
3
A right to appoint or remove which is exercisable only with the consent or concurrence of another person shall be left out of account unless no other person has a right to appoint or, as the case may be, remove in relation to that directorship.
Sch. 6 applied by Enterprise Act 2002 (c. 40), s. 79(9) (as amended (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 199(2)(a) (with art. 10))