Article 50 - Removal of Directors

(1) Notwithstanding anything in its articles of association or in any agreement between the Investment Club and the director and without prejudice to any other power to remove a director which may exist apart from this Article 50, an Investment Club may by Ordinary Resolution at a general meeting remove a director before the expiration of his period of office, provided that notice of any such meeting shall be served on the director concerned not less than 21 days before the meeting and such director shall be entitled to be heard at such meeting.
(2) The removal of a director from office by resolution of the Members of the Investment Club under Article 50(1) shall be without prejudice to any rights of that director to compensation or damages in respect of the termination of his appointment as director.
Derived (as from 20th December 2016).