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Question 1
A) According to the provisions of section 201B of the Corporations Act 2001, a person must fulfill the following criteria in order to be appointed as a director of a company
· the person should be a individual and not a body corporate or an association of person
· they must have completed minimum 1 years of age
· they should not otherwise be disqualified to act as director of company under Part 2D.6 of the Corporations Act 2001, unless their appointment has been made by taking prior approval of the ASIC or prior permission of the Court as described in section 206G (ASIC n.d.).
There is no maximum age limit for holding office as a director however; the constitution of a company may provide age limit or other conditions to be fulfilled for holding office as a director of the company.
B) Section 203D of the Corporations Act 2001 gives the members the power to remove directors in case of companies such as Fair Endeavours Limited. This section provides that a director would be automatically removed from their office if they are convicted for a serious offence or the director becomes an undischarged insolvent (Lexology n.d.). This section also provides that if the director is held for particular offences which are against the Corporation Act and is punishable for a period more than 12 months or they are held guilty of an offence which involves dishonesty and is punishable with imprisonment of a period more than 3 months, then the director shall automatically be liable for removal from their position as a director. In this case, Cravin is forcing the other shareholders to be involved...