The Companies Act, 2013
Chapter-XI Appointment and Qualifications of Directors
Section 163: Option to adopt principle of proportional representation for appointment of directors.
*163. Notwithstanding anything contained in this Act, the articles of a company may provide for the appointment of not less than two-thirds of the total number of the directors of a company in accordance with the principle of proportional representation, whether by the single transferable vote or by a system of cumulative voting or otherwise and such appointments may be made once in every three years and casual vacancies of such directors shall be filled as provided in sub-section (4) of section 161.
*Effective from 12.09.2013.
Disclaimer: Please refer Bare Act for original contents. Click here to access All Acts