Thursday September 24, 2020

Directors warned not to hold excess directorships

The Companies Registration Office (CRO) has warned directors that they could be prosecuted if they hold more than 25 directorships.

7th October, 2006

According to section 45 of the 1999 Companies (Amendment)( No 2) Act, a director may only hold up to 25 directorships at any one time, with certain limited exceptions. Any further appointment as a director is automatically null and void.

In its October e-zine, issued last week, the CRO said: ‘‘Such a person may not, therefore, hold him or herself out as a director or purport to act in any way as a director for the company in question....

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