Chapter 8 – Company management
A share limited company shall have a board of directors with one or more members. The limit is set regardless of whether the public limited company is public or private. The board of directors of a private limited company may consist of one or two members if at least one alternate is appointed, see Chapter 8, section 3, ABL.
There is nothing to prevent a private limited company from having a board of three or more members. In that case, there is no need for an alternate board member in the company.