COMPANIES ACT - 1963 (ACT 179)

    Section - 180 - Number of Directors

    (1) Every company incorporated after the commencement of this Code shall have at least two directors.

    (2) Every company incorporated prior to the commencement of this Code shall, after the expiration of six months from the commencement of this Code, have at least two directors.

    (3) If at any time the number of directors is less than two in breach of either of the foregoing subsections of this section and the company continues to carry on business for more than four weeks thereafter, the company and every director and member of the company who is in default shall be liable to a fine not exceeding five pounds for every day during which it so carries on business after the expiration of such four weeks without having at least two directors; and every director and member of the company who is cognisant of the fact that it is carrying on business with fewer than two directors shall be jointly and severally liable for all the debts and liabilities of the company incurred during that time.

    (4) Subject as aforesaid the number of directors shall be fixed by, or in accordance with, the company's Regulations.