# Companies (Consolidation) Act 1908, Paragraph 77


The office of director shall be vacated, if the director—
(a) ceases to be a director by virtue of section seventy-three of the . Companies (Consolidation) Act, 1908 ; or
(b) holds any other office of profit under the company except that of managing director or manager ; or
(c) becomes bankrupt; or
(d) is found lunatic or becomes of unsound mind ; or
(e) is concerned or participates in the profits of any contract with the company :
Provided, however, that no director shall vacate his office by reason of his being a member of any company which has entered into contracts with or done any work for the company of which he is director : but a director shall not vote in respect of any such contract or work, and if he does so vote his vote shall not be counted.

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Source: https://www.legislation.gov.uk/ukpga/Edw7/8/69/schedule/FIRST/paragraph/77 (the official version)
Page: https://openlegislation.uk/companies-consolidation-act-1908/schedule-FIRST/paragraph-77
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.