Section 208
Vacation of office of director
(a)
resigns in accordance with subsection (2);
(b)
has retired in accordance with this Act or the constitution of the company but is not re-elected;
(c)
is removed from office in accordance with this Act or the constitution of the company;
(d)
becomes disqualified from being a director under section 198 or 199;
(e)
becomes of unsound mind or a person whose person or estate is liable to be dealt with in any way under the
Mental Health Act 2001 [Act 615];
(f)
dies; or
(g)
otherwise vacates his office in accordance with the constitution of the company.
(2)
Subject to subsection 196(3) and section 209, a director may resign his office by giving a written notice to the company at its registered office.
(3)
A notice under subsection (2) shall be effective when it is delivered at the address of the registered office or at a later date specified in the notice.
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(4)
If a vacancy is created resulting from circumstances referred to in subsection (1), the Board shall have the power, at any time, to appoint any person to be a director to fill such casual vacancy and the director so appointed shall hold office—
(a)
in the case of a public company, until the next annual general meeting; or
(b)
in the case of a private company, in accordance with the terms of appointment.