Corporations Act 2001
Note: This Part does not apply to a CCIV: see section 1224E .
View history note
Hide history noteThis Subdivision applies in relation to a public company if its constitution allows its directors to set a limit (a board limit ) whose effect is to restrict the number of directors of the company to a number less than the maximum number of directors specified in the constitution.
Note: This Subdivision applies however the constitution or board limit is expressed.
201N(2)
If a company ' s constitution provides that the maximum number of directors is either a specified number or another number determined by the directors:
(a) any number determined by the directors that is lower than the specified number is a board limit ; and
(b) any lowering by the directors of that lower number is also a board limit .
201N(3)
Subsection (2) does not limit, and is not limited by, subsection (1).
[ CCH Note : There is no section 201O.]
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