Section 208. Vacation of office of director

(1) The office of a director of a company shall be vacated if the person holding that office—

(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.

(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.