Companies Act 2014 section 985

Directors

Section 985 sets out the minimum number of directors required for a Designated Activity Company (DAC) and clarifies that single-director provisions do not apply to DACs.

• A DAC must have a minimum of two directors at all times.
• This two-director requirement follows the recommendation of the Company Law Review Group (CLRG).
• Only the new model private company limited by shares (LTD) is permitted to operate with a single director.
• Any provisions elsewhere in the Act that cater for single-director companies do not apply to a DAC.