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Law No: 10/96 (An Unofficial Translation)
Management of the Company
Board of directors
44. Every company shall be managed by a Board of Directors.
45. (a) Every private company shall have at least two directors and every public company shall have at least five directors in the Board.
(b) At least one member of the Board of Directors shall be a resident of the Republic of Maldives.
(c) A director of a company shall be at least sixteen years of age.
(d) The directors of the company shall be shareholders of the company. If the shareholders are legal entities then the directors shall be persons nominated by the respective entity.
(e) The first directors of the company shall be written down in the article
of association of the company.
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