CORPORATIONS ACT 2001 - SECT 201A Minimum number of directors
CORPORATIONS ACT 2001 - SECT 201A
Minimum number of directors(1) A proprietary company must have at least 1 director. That director must ordinarily reside in Australia.
(1A) However, a proprietary company must have at least 2 directors while the company has one or more CSF shareholders. Of those directors:
(a) if there are only 2 of them--at least one of them must ordinarily reside in Australia; or
(b) otherwise--a majority of them must ordinarily reside in Australia.
Note: The company must also have at least 2 directors when making the CSF offer (see paragraph 738H(1)(a)).
(2) A public company must have at least 3 directors (not
counting alternate directors). At least 2 directors must ordinarily reside
in Australia.