(a)where the Director resigns his office in view of the reconstruction of the company, or of its amalgamation with any other body corporate or bodies corporate, and is appointed as the Managing Director, [* * *] [* * *] [ The words " secretaries and treasurers" omitted by Act 65 of 1960, Section 120 (w.e.f. 28.12.1960).] manager or other officer of the reconstructed company or of the body corporate resulting from the amalgamation;