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CORPORATIONS ACT 2001 - SECT 203AB Resignation of directors--resignation has no effect if company has no other directors

CORPORATIONS ACT 2001 - SECT 203AB

Resignation of directors--resignation has no effect if company has no other directors

  (1)   The resignation of a director of a company does not take effect if, at the end of the day that the resignation is to take effect, the company does not have at least one director.

Note:   For the application of this section, see Part   10.37.

  (2)   However, subsection   (1) does not prevent the resignation of a director of a company taking effect if the resignation is to take effect on or after the day that the winding up of the company is taken, because of Division   1A of Part   5.6, to have begun.

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