CAF-4 · Chapter 18 · Question 5 of 9
A casual vacancy occurs on the board of a listed company due to the sudden resignation of a director. What is the legal requirement for filling this vacancy?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) It must be filled by the remaining directors within 90 days, and the new director holds office for the remainder of the term.
Explanation
Any casual vacancy on the board of a listed company must be filled by the directors within 90 days. The person appointed holds office for the remainder of the term of the director in whose place they were appointed.
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