Corporations (Aboriginal and Torres Strait Islander) Act 2006
CHAPTER 3
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BASIC FEATURES OF AN ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION
PART 3-5
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CORPORATION POWERS AND HOW THEY ARE EXERCISED
Division 99
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How are a corporation
'
s powers exercised?
SECTION 99-1
AGENT EXERCISING A CORPORATION
'
S POWER TO MAKE CONTRACTS ETC.
99-1(1)
An Aboriginal and Torres Strait Islander corporation ' s power to make, vary, ratify or discharge a contract may be exercised by an individual acting with the corporation ' s express or implied authority and on behalf of the corporation. The power may be exercised without using a common seal.
99-1(2)
This section does not affect the operation of a law that requires a particular procedure to be complied with in relation to the contract.
An Aboriginal and Torres Strait Islander corporation ' s power to make, vary, ratify or discharge a contract may be exercised by an individual acting with the corporation ' s express or implied authority and on behalf of the corporation. The power may be exercised without using a common seal.
99-1(2)
This section does not affect the operation of a law that requires a particular procedure to be complied with in relation to the contract.
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