Amendment status not verified — confirm the current text below against the official source.
Tenure of directors.––Where the articles of association provide for retirement of all directors at once, the tenure of office of all the directors, and, where the articles of association provide for retirement of directors by rotation, the tenure of office of the individual directors shall be for such period as specified in the articles of association, not exceeding three years from the date of assumption of office, as specified in the articles of association.