Corporations Act 2001

CHAPTER 2D - OFFICERS AND EMPLOYEES  

PART 2D.3 - APPOINTMENT, REMUNERATION AND CESSATION OF APPOINTMENT OF DIRECTORS  

Note: This Part does not apply to a CCIV: see section 1224E .

Division 1 - Appointment of directors  

Subdivision B - Limits on numbers of directors of public companies  

SECTION 201N   APPLICATION OF SUBDIVISION  

201N(1)    
This Subdivision applies in relation to a public company if its constitution allows its directors to set a limit (a board limit ) whose effect is to restrict the number of directors of the company to a number less than the maximum number of directors specified in the constitution.

Note: This Subdivision applies however the constitution or board limit is expressed.


201N(2)    
If a company ' s constitution provides that the maximum number of directors is either a specified number or another number determined by the directors:


(a) any number determined by the directors that is lower than the specified number is a board limit ; and


(b) any lowering by the directors of that lower number is also a board limit .

201N(3)    
Subsection (2) does not limit, and is not limited by, subsection (1).


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.