The Companies Act, 2013
Chapter-XI Appointment and Qualifications of Directors
Section 151: Appointment of director elected by small shareholders.
*151. A listed company may have one director elected by such small shareholders in such manner and with such terms and conditions as may be prescribed.
Explanation.—For the purposes of this section “small shareholders” means a shareholder holding shares of nominal value of not more than twenty thousand rupees or such other sum as may be prescribed.
Reference
*Effective from 01.04.2014.
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