Irish Collective Asset-Management Vehicles Act 2015


Appointment of directors to be voted on individually

61. (1) At a general meeting of an ICAV, a motion for the appointment of 2 or more persons as directors of the ICAV by a single resolution shall not be made, unless a resolution that it shall be so made has first been agreed to by the meeting without any vote being given against it.

(2) Subject to subsections (3) and (4), a resolution moved in contravention of this section shall be void, whether or not its being so moved was objected to at the time.

(3) Subsection (2) shall not be taken as excluding the operation of section 60 .

(4) Where a resolution moved in contravention of this section is passed, no provision for the automatic re-appointment of retiring directors in default of another appointment shall apply.

(5) For the purposes of this section, a motion for approving a person’s appointment or for nominating a person for appointment shall be treated as a motion for the person’s appointment.

(6) Nothing in this section shall apply to a resolution altering an ICAV’s instrument of incorporation.