THE CORPORATIONS LAW

CHAPTER 2D - OFFICERS AND EMPLOYEES

PART 2D.1 - DUTIES AND POWERS

Division 4 - Powers

SECTION 198B   NEGOTIABLE INSTRUMENTS (replaceable rule - see section 135)  

198B(1)  (Use of negotiable instruments)  

Any 2 directors of a company that has 2 or more directors, or the director of a proprietary company that has only 1 director, may sign, draw, accept, endorse or otherwise execute a negotiable instrument.

198B(2)  [Use of instrument in a different way]  

The directors may determine that a negotiable instrument may be signed, drawn, accepted, endorsed or otherwise executed in a different way.