Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 6 - OFFICERS  

PART 6-4 - DUTIES AND POWERS OF DIRECTORS AND OTHER OFFICERS AND EMPLOYEES  

Division 268 - Duties in relation to disclosure of, and voting on matters involving, material personal interests  

SECTION 268-25   REGISTRAR ' S POWER TO MAKE DECLARATIONS AND CLASS ORDERS  
Registrar ' s power to make specific declarations

268-25(1)    
The Registrar may declare in writing that a director of an Aboriginal and Torres Strait Islander corporation who has a material personal interest in a matter that is being, or is to be, considered at a directors ' meeting may, despite the director ' s interest:

(a)    be present while the matter is being considered at the meeting; or

(b)    vote on the matter; or

(c)    both be present and vote.

268-25(2)    
A declaration under subsection (1) is not a legislative instrument.

268-25(3)    
However, the Registrar may only make the declaration if:

(a)    the number of directors entitled to be present and vote on the matter would be less than the quorum for a directors ' meeting if the director were not allowed to vote on the matter at the meeting; and

(b)    the matter needs to be dealt with urgently, or there is some other compelling reason for the matter being dealt with at the directors ' meeting, rather than by a general meeting called under subsection 268-20(6) .

268-25(4)    
A declaration under subsection (1) may:

(a)    apply to all or only some of the directors; or

(b)    specify conditions that the corporation or director must comply with.

Registrar ' s power to make class orders

268-25(5)    
The Registrar may make an order in writing that enables directors who have a material personal interest in a matter to be present while the matter is being considered at a directors ' meeting, vote on that matter, or both be present and vote. The order may be made in respect of a specified class of Aboriginal and Torres Strait Islander corporation, directors, resolutions or interests.

268-25(6)    
An order made under subsection (5) in respect of a class of Aboriginal and Torres Strait Islander corporation is a legislative instrument.

268-25(7)    
The order may be expressed to be subject to conditions.

268-25(8)    
Notice of the making, revocation or suspension of the order must be published in the Gazette .

 

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