Section 269 CAMA 2020
Section 269 Companies and Allied Matters Act is about Meaning of directors. It is under Chapter 11 (Directors) of the Act.
(1) A Director of a company registered under this Act is a person duly appointed by the company to direct and manage the business of the company.
(2) There is a rebuttable presumption in favour of any person dealing with the company that all persons who are described by the company as directors, whether as executive or otherwise, is duly appointed.
(3) Where a person not duly appointed acts or holds himself out as a director, he commits an offence and is liable on conviction to imprisonment for a term of two years or a fine as the Court deems fit for each day he so acts or holds out himself as a director or both and shall be restrained by the company.
(4) If it is the company that holds him out as a director, it is liable to a fine in such amount as the Commission shall specify in its regulations for each day it holds him out, and he and the company may be restrained by any member from so acting until he is duly appointed.
