Section 102

A director shall vacate office if he incurs any of the disqualifications specified in section 164. A director may resign his office by giving notice in writing to the company. The resignation of a director shall take effect from the date on which the notice is received by the company or from the date specified in the notice, whichever is later. The company shall, within 30 days of the receipt of the notice, inform the Registrar of the resignation of the director. The company shall also, within 30 days of the receipt of the notice, send to all members a notice specifying the name and address of the director who has resigned and the date from which the resignation takes effect. The notice shall also state the name of the person who has been appointed as the director in place of the director who has resigned. The company shall also send to all members a statement setting out the information required to be disclosed under sub-section (1) of section 164. The company shall also send to all members a statement setting out the information required to be disclosed under sub-section (1) of section 164.