I know that this sounds like an illogically question, but ...
I have a new client (A) who is involved with a business partner (B) in a company that he wants to walk away from. They are the only 2 directors and each 50% shareholders.
A wants to resign as a director, but also transfer his shares to B, happy to do so at no cost.
1. Fairly sure A can resign as a director without the B’s permission and just let B know after the fact. Or am I wrong?
2. A stock transfer form would only be completed by A, so does B even need to know? Can A just complete it and send it to the Registered Office (trading office) after the fact? As per above, I know that this sounds a stupid question, but does anyone know of and rule / legislation that dictates it as so?