Out of the two owners/directors of a factory, only one, either A or B, can be the occupier. The board can make a decision by a resolution, but it will not be acceptable to the Director of the Factory because there is no provision in the law. The other owner can be declared the Factory Manager. According to Section 2(n) of the Factories Act, 1948, any one of the directors of that company is deemed to be the occupier. Read the factory rules of your state for a full understanding of the matter.