THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 2D - OFFICERS AND EMPLOYEES

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History

Chapter 2D substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

PART 2D.1 - DUTIES AND POWERS

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History

Part 2D.1 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 4 - Powers

SECTION 198A   POWERS OF DIRECTORS (replaceable rule - see section 135)  

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198A(1)  (Management of business)  

The business of a company is to be managed by or under the direction of the directors.

Note:

See section 198E for special rules about the powers of directors who are the single director/shareholder of proprietary companies.

198A(2)  (Exercise of powers)  

The directors may exercise all the powers of the company except any powers that this Law or the company's constitution (if any) requires the company to exercise in general meeting.

Note:

For example, the directors may issue shares, borrow money and issue debentures.

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History

S 198A inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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