(1) A corporation may,
by instrument in writing, delegate the performance of any of its functions,
except this power of delegation.
(2) A delegation under
subsection (1) may be made to —
(a) a
director or directors; or
(ba) the
chief executive officer; or
(b) a
member or members of staff; or
(c) a
committee established under the GTE Act section 26; or
(d) any
other person.
(3) A delegate cannot
subdelegate the performance of any function unless he or she is expressly
authorised by the instrument of delegation to do so.
(4) A function
performed by a delegate of a corporation is to be taken to be performed by the
corporation.
(5) A delegate
performing a function under this section is to be taken to do so in accordance
with the terms of the delegation unless the contrary is shown.
(6) Nothing in this
section is to be read as limiting the ability of a corporation to act through
its officers and agents in the normal course of business.
(7) This section does
not apply to the execution of documents.
Note for this subsection:
Authority to execute
documents on behalf of a corporation can be given under the GTE Act section
156.
[Section 35 amended: No. 25 of 2012 s. 132 and
190; No. 13 of 2023 s. 271.]