(1) If the directors for the time being (other than a director who is absent from Australia when the other directors sign) sign a document containing a statement that they are in favour of a resolution in the terms set out in the document, a resolution in those terms is taken to have been passed at a meeting of the board held—
(a) on the day on which the document is signed; or
(b) if the directors do not sign the document on the same day, on the day on which the last director to sign signs the document.
(2) If a resolution is taken under subsection (1) to have been passed at a meeting of the board, each director must be—
(a) advised as soon as practicable; and
(b) given a copy of the terms of the resolution.
(3) For the purposes of subsection (1), 2 or more separate documents containing a statement in identical terms, each of which is signed by one or more directors, are taken to constitute one document.
S. 530 (Heading) amended by No. 15/2021 s. 38(1).
S. 530 substituted by No. 73/2016 s. 15.