Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 927

927. (1) The Board may, by resolution, appoint a management sub-committee of
not fewer than 3 nor more than 5 persons, at least one of whom is a member of
the Board.

(2) The Board may, by resolution, delegate to a sub-committee appointed by it
under this section all or any of its powers, authorities and discretions under
a provision of this Part (other than this section, section 944, and
subsections 954 (5) and 969 (3)).

(3) A power, authority or discretion delegated under subsection (2) may be
exercised by members forming a majority of the sub-committee as if that power,
authority or discretion had been conferred by this Part on a majority of the
members of the sub-committee.

(4) A delegation by the Board under this section may, at any time, by
resolution of the Board, be varied or revoked.

(5) The Board may at any time, by resolution, remove a member of a
sub-committee appointed by it under this section and may, by resolution, fill
a vacancy arising in the membership of the sub-committee.

(6) Any power, authority or discretion exercised under this section by, or by
a majority of, a sub-committee shall be deemed to have been exercised by the
Board.

(7) Any remuneration or expenses paid to a member of a sub-committee appointed
under this section shall be deemed to be expenses incurred in the
administration of the Fund.