Under what condition can directors receive weighted voting rights?

Weighted voting rights for directors can be established if they are explicitly stated in the company constitution. This means that the governing documents of the company, which outline the rights and responsibilities of shareholders and directors, can provide for different voting powers based on certain criteria, including experience or contribution to the company.

The company constitution serves as the foundational legal document for the governance of the entity, and it is within this framework that any unique voting arrangements, such as weighted voting rights, must be documented and agreed upon. This provision allows for flexibility in how directors may be empowered to influence decision-making based on the structure defined by the founding members, which is crucial for maintaining governance standards tailored to the needs of the business.

In contrast, simply being a founding member, holding the majority of shares, or having a lengthy tenure with the company does not inherently grant weighted voting rights unless these conditions are explicitly codified in the company constitution. Therefore, the critical aspect is that any variation in voting rights must be clearly articulated within the governing documents of the company to ensure legal enforceability and clarity in operations.