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Law No: 10/96 (An Unofficial Translation)
Company secretary
46. (a) Every company shall have a company secretary. It is the duty of the Board of Directors to see that the person appointed as the company secretary is competent to discharge the functions of the secretary of the company.
(b) Every company shall, when submitting its application for registration, submit to the registrar of companies the name of person who shall be the company secretary and an acceptance letter from the person.
(c) The duties of the company secretary shall be those prescribed by the regulations made under this Act.
Loans and guarantees to directors
47. (a) Public companies shall not grant a loan or issue a guarantee for a loan to a member of its Board of Directors nor to a company with their shares.
(b) Sub-section (a) does not apply to companies carrying out banking functions with the permission of Maldives Monetary Authority.
Appointment and removal of directors
48. Members to the Board of Directors shall be elected, appointed and removed in accordance with the articles of association of the company.
