# Companies Act 1948, Paragraph 89


At the first annual general meeting of the company all the directors shall retire from office, and at the annual general meeting in every subsequent year one-third of the directors for the time being, or, if their number is not three or a multiple of three, then the number nearest one-third, shall retire from office.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/schedule/FIRST/paragraph/89 (the official version)
Page: https://openlegislation.uk/companies-act-1948/schedule-FIRST/paragraph-89
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.