Resolution for Appointment of Part Time Govt Nominee Director

In accordance with sub-section (3) of section 161 of the Companies Act, 2013, subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company.

Here is a template of ordinary resolution passed in the general meeting of shareholders for appointment of a Part-time Govt Nominee Director.

SAMPLE

#. To appoint Mr./Ms. .................... (DIN: ...............) as Part Time Govt Nominee Director

To consider and if thought fit, to pass the following resolution, with or without modification, as an Ordinary Resolution:

“RESOLVED THAT pursuant to the provisions of Section 161(3) of the Companies Act, 2013, read with Article ... of Articles of Association of the Company, and in accordance with the agreement with (Name of the Party), the appointment of Mr./Ms. .................... (DIN: ...............) as Part Time Govt Nominee Director in the Company, w.e.f. (Date), be and is hereby approved on such terms, conditions and tenure as may be determined by the Board in consultation with the (Name of the Party) from time to time.”

Explanatory Statement pursuant to Section 102(1) of the Companies Act, 2013

Item No. ...

In accordance with the agreement dated ............ between (Name of the Party) and the Company, (Name of the Party) has proposed for the candidature of Mr./Ms. .................... as Part Time Govt. Nominee Director of the Company. The company has received a notice from a member under section 160 of the Companies Act, 2013 proposing the candidature of Mr./Ms. .................... (DIN: ...............) as Part Time Govt. Nominee Director of the company.

Mr./Ms. ...................., aged ...years, has (mention qualifications). He/She was (mention work experience in brief).

The Board considers it desirable that the Company should avail his/her services as Part Time Govt. Nominee Director and recommend this resolution for approval of the shareholders.

None of the Directors or Key Managerial Personnel of the Company or their relatives except Mr./Ms. .................... to the extent of her/his appointment as Part Time Govt. Nominee Director, in any way concerned or interested, financially or otherwise in the foregoing resolution.

............................................

Note: Do refer to the latest relevant provisions of the Companies Act and rules thereunder and any other applicable provisions before finalising the resolution. The above mentioned resolution is only  a specimen copy of such resolutions for your reference purpose only.