A managing director is neither comprised by the Holidays Act nor the Salaried Employees Act. Due to his/her role as top executive in the company, a sole director or managing director's independent position is such that he/she is not comprised by legislation which protects other employees, including the Salaried Employees Act and the Holidays Act.
This means that the employment relation is only governed by the agreement between the executive and the company. If desirable, the parties can include a clause in the executive service contract to the effect that the Salaried Employees Act and Holidays Act should apply.
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