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Prohibition of body corporate being director.
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176.—(1) A company shall not, after the expiration of 3 months from the operative date, have as director of the company a body corporate.
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(2) A body corporate which, on the operative date is a director of a company shall within a period of 3 months from that date vacate its office as director of the company, and all acts or things purporting to be made or done after the expiration of that period, by a body corporate as director of any company shall be null and void.
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