Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 3 - BASIC FEATURES OF AN ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION  

PART 3-2 - RULES DEALING WITH THE INTERNAL GOVERNANCE OF CORPORATIONS  

Division 60 - What are the replaceable rules and when do they apply to a corporation?  

SECTION 60-10   EFFECT OF CONSTITUTION AND REPLACEABLE RULES  

60-10(1)    
An Aboriginal and Torres Strait Islander corporation ' s constitution, and any replaceable rules that apply to the corporation, have effect as a contract:

(a)    between the corporation and each member; and

(b)    between the corporation and each director and corporation secretary; and

(c)    between a member and each other member.

60-10(2)    
Under the contract, each person agrees to observe and perform the requirements of the constitution and rules so far as they apply to that person.