Corporations (Aboriginal and Torres Strait Islander) Act 2006

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

PART 3-2 - RULES DEALING WITH THE INTERNAL GOVERNANCE OF CORPORATIONS  

Division 66 - What are the internal governance Rrules requirements?  

SECTION 66-5   MEANING OF cover the matters provided for in the replaceable rules  
If all replaceable rules apply or all are replaced

66-5(1)    
The internal governance rules of an Aboriginal and Torres Strait Islander corporation cover the matters provided for in the replaceable rules if:

(a)    all of the replaceable rules apply to the corporation; or

(b)    none of the replaceable rules apply to the corporation and the corporation ' s constitution covers all of the matters provided for in the replaceable rules.

If some replaceable rules apply and some are modified or replaced

66-5(2)    
The internal governance rules of an Aboriginal and Torres Strait Islander corporation also cover the matters provided for in the replaceable rules if:

(a)    some of the replaceable rules apply to the corporation; and

(b)    the corporation ' s constitution provides for the matters covered by the replaceable rules that the corporation has modified or replaced.

Corporation may also have other rules unrelated to the replaceable rules in its constitution

66-5(3)    
To avoid doubt, and subject to the internal governance rules requirements, nothing in this Part precludes the constitution of an Aboriginal and Torres Strait Islander corporation providing for a matter that is in addition to those matters provided for in the replaceable rules.

Regulations may modify section

66-5(4)    
The regulations may modify this section.

66-5(5)    
Without limiting subsection (4) , the regulations may provide for further situations in which the internal governance rules of an Aboriginal and Torres Strait Islander corporation cover the matters provided for in the replaceable rules .

 

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