Section 163 of the Companies Act, 2013: Option to adopt principle of proportional representation for appointment of directors

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.


Reference

*Effective from 12.09.2013.


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