Corporations (Aboriginal and Torres Strait Islander) Act 2006

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

PART 3-5 - CORPORATION POWERS AND HOW THEY ARE EXERCISED  

Division 99 - How are a corporation ' s powers exercised?  

SECTION 99-5   EXECUTION OF DOCUMENTS (INCLUDING DEEDS) BY THE CORPORATION ITSELF  

99-5(1)    
An Aboriginal and Torres Strait Islander corporation may execute a document without using a common seal if the document is signed by:

(a)    2 directors of the corporation; or

(b)    a director and a corporation secretary (if any) of the corporation; or

(c)    if the corporation has only 1 director - that director.

Note:

If an Aboriginal and Torres Strait Islander corporation executes a document in this way, people will be able to rely on the assumptions in subsection 104-5(6) for dealings in relation to the corporation.

99-5(2)    
An Aboriginal and Torres Strait Islander corporation with a common seal may execute a document if the seal is fixed to the document and the fixing of the seal is witnessed by:

(a)    2 directors of the corporation; or

(b)    a director and a corporation secretary of the corporation; or

(c)    for an Aboriginal and Torres Strait Islander corporation that has only 1 director - that director.

Note:

If an Aboriginal and Torres Strait Islander corporation executes a document in this way, people will be able to rely on the assumptions in subsection 104-5(7) for dealings in relation to the corporation.

99-5(3)    
An Aboriginal and Torres Strait Islander corporation may execute a document as a deed if the document is expressed to be executed as a deed and is executed in accordance with subsection (1) or (2) .

99-5(4)    
This section does not limit the ways in which an Aboriginal and Torres Strait Islander corporation may execute a document (including a deed).