COMPANIES ACT - 1963 (ACT 179)

    Section - 193 - Managing Directors

    Unless the Company's Regulations shall otherwise provide,

    (a) the directors may from time to time appoint one or more of their body to the office of managing director and to any such appointment the provisions of section 192 of this Code shall apply;

    (b) the appointment of managing director shall be automatically determined if the holder of the office ceases from any cause to be a director and, unless the agreement entered into in any particular case shall otherwise provide, such determination shall not constitute a breach of this contract with the company;

    (c) the directors may entrust to and confer upon a managing director any of the powers exercisable by them upon such terms and with such restrictions as they think fit, and either collaterally with, or to the exclusion of their own powers and, subject to the terms of any agreement entered into in any particular case, may from time to time revoke or vary all or any of such powers.