(1) The directors hold
office and must retire, and may be removed from office, as provided by the
rules of the co-operative.
(2) A director vacates
office in the circumstances, if any, provided in the rules of the co-operative
and in any of the following cases —
(a) if
the director is a disqualified person under section 206B;
(b) if
the director absents himself or herself from 3 consecutive ordinary meetings
of the board without its leave;
(c) if
the director resigns the office of director by written notice given by the
director to the co-operative;
(d) if
the director is removed from office under section 206A;
(e) if
the person ceases to hold the qualification by reason of which the person was
qualified to be a director;
(f) if
an administrator of the co-operative’s affairs is appointed under Part
12 Division 4.
[Section 205 amended: No. 7 of 2016 s. 59.]