Corporations Act 2001
Note: This Part does not apply to a CCIV: see section 1224E .
View history note
Hide history noteThe directors must not set a board limit unless:
(a) a resolution (a board limit resolution ) approving the proposal to set the limit specified in the resolution has been passed by a general meeting of the company; and
(b) the notice of the meeting set out an intention to propose the board limit resolution and stated the resolution; and
(c) the notice was accompanied by a statement explaining the resolution and meeting the requirements in section 201Q .
Note 1: Subsection 249L(3) requires information in the notice of meeting to be presented clearly, concisely and effectively.
Note 2: Section 201U specifies the consequences of a contravention of subsection (1) of this section. Also, section 1324 provides for injunctions to enforce subsection (1) of this section.
201P(2)
A board limit resolution has effect until immediately before the start of the first AGM of the company after the general meeting by which the resolution was passed.
201P(3)
A board limit resolution does not prevent the appointment of a person as a director of the company by the other directors of the company between general meetings of the company.
201P(4)
However, if a person is appointed by the other directors as a director of the company while a board limit resolution has effect, the company must confirm the appointment by resolution at the company ' s next AGM. If the appointment is not confirmed, the person ceases to be a director of the company at the end of the AGM.
201P(5)
Subsections (1), (2) and (4) have effect despite the company ' s constitution.
Note: Although subsection (4) is like subsection 201H(3) in many ways, it is not a replaceable rule like subsection 201H(3) .
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
