Clause 41
Amendment of Fourth Schedule
BillNot in forceProvision 41 of 44
Clause 41
The Fourth Schedule to the Companies Act is amended by deleting paragraph 73 and substituting the following paragraph:“73.—
(1)
The business of a company shall be managed by or under the direction of the directors.
(2)
The directors may exercise all the powers of a company except any power that this Act or the memorandum and articles of the company require the company to exercise in general meeting.”.