(1) After the issue of a certificate of incorporation of a company, a meeting of the directors of the company shall be held at which the directors may—
(a) make bye-laws;
(b) adopt forms of share certificates and corporate records;
(c) authorise the issue of shares;
(d) appoint officers;
(e) appoint an auditor to hold office until the first annual meeting of shareholders;
(f) make banking arrangements; and
(g) transact any other business.
(2) An incorporator or a director may call a meeting of directors referred to in subsection (1) by giving by post not less than 7 clear days' notice of the meeting to each director and stating in the notice the time and place of the meeting.
(3) Subsection (1) does not apply to a company to which a certificate of amalgamation has been issued under section 225.