Terminate of Company Directorship

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asked on Sep 10, 2015 at 01:57
I am partnering with people to register as a company director as 1% share holder for the pass 10 years. I am not active in decision making for company operation for the pass 10 years as well besides acting as sleeping partner.

I have inform my partner I would like to pull out my name as 1% director for about 2 years as I am no longer interested in this partnership. Anyhow, the other director taken so long time and still told me that he not able to find the replacement. Anyhow, I have no intend to continue in this directorship and what can I do?

Thanks for advise.

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answered on Sep 24, 2015 at 06:05
I assume that you are a director of a private limited company with a shareholding of 1% of paid-up capital. You can at any time by sending a registered letter of your resignation of company directorship to the company secretary and the board of directors. Only exception is you cannot "resign" if there is only 2 directors in the company. Please check with the company secretary or go to ROC/SSM for more clarification.  Noe that you will still remain as a shareholder.
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