THE CORPORATIONS LAW

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 10 - Interpreting other subordinate instruments

SECTION 110C   SEVERING INVALID PROVISIONS  

110C(1)  [Interpretation of instrument]  

An instrument made, granted or issued under this Law is to be interpreted:

(a)  subject to this Law; and

(b)  so as not to exceed the powers under which it was made, granted or issued.

110C(2)  [Powers not to be exceeded]  

It is intended that where, but for this section, such an instrument would have been interpreted as exceeding the powers under which it was made, granted or issued, it is nevertheless to be valid in so far as it does not exceed those powers.