CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 268.25 Registrar's power to make declarations and class orders

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 268.25

Registrar's power to make specific declarations

  (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.

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

  (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).

  (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

  (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.

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

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

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