Section 184 - Managing directors

Except as otherwise provided in the constitution of a company,

(a) the directors may from time to time appoint one or more of their body to the office of managing director and section 183 shall apply to that appointment;

(b) the appointment of a managing director shall be automatically determined if the holder of the office ceases from a cause to be a director and, unless the agreement entered into in a particular case otherwise provides, the determination shall not constitute a breach of the contract with the company; and

(c) the directors may entrust to and confer on a managing director any of the powers exercisable by them on the terms and with the restrictions that the directors think fit, and collaterally with, or to the exclusion of the powers of the directors and, subject to the terms of an agreement entered into in a particular case, may from time to time revoke or vary all or any of those powers.