(1)No person, after the commencement of this Act, shall hold office as a director, including any alternate directorship, in more than twenty companies at the same time:Provided that the maximum number of public companies in which a person can be appointed as a director shall not exceed ten.Explanation.—For reckoning the limit of public companies in which a person can be appointed as director, directorship in private companies that are either holding or subsidiary company of a public company shall be included.
