Document background
The Removal Of Director Resolution is a crucial corporate governance document used when a company needs to formally remove a director from their position. Under Austrian law, particularly the Stock Corporation Act (Aktiengesetz) or Limited Liability Companies Act (GmbH-Gesetz), specific procedures and documentation requirements must be followed to effectuate a director's removal. This document is typically prepared following a shareholders' or board meeting where the removal decision was made, and it must contain specific information including the grounds for removal (if required), voting details, and effective date. The resolution serves multiple purposes: it formally documents the decision, provides necessary information for updating the commercial register (Firmenbuch), and establishes a clear record for corporate governance purposes. It's particularly important in situations involving contested removals or when regulatory compliance needs to be demonstrated.
