Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 201K

Alternate directors (replaceable rule—see section 135)

 
 
(1)
With the other directors' approval, a director
may appoint an alternate to exercise some or all of the director's powers for
a specified period.


(2)
If the appointing director requests the company to give the
alternate notice of directors' meetings, the company must do so.


(3)
When an alternate exercises the director's powers, the exercise
of the powers is just as effective as if the powers were exercised by the
director.


(4)
The appointing director may terminate the alternate's appointment
at any time.


(5)
An appointment or its termination must be in writing. A copy must
be given to the company. 
 
 
 Note:
ASIC must be given notice of the appointment and termination of appointment of
an alternate (see subsections 205B(2) and (5)).