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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 274.1 Powers of directors (replaceable rule--see section 60 - 1)

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 274.1

Powers of directors (replaceable rule--see section 60 - 1)

  (1)   The business of an Aboriginal and Torres Strait Islander corporation is to be managed by or under the direction of the directors.

  (2)   The directors may exercise all the powers of the corporation except any powers that this Act or the corporation's constitution requires the corporation to exercise in general meeting.

Note:   For example, the directors may enter into contracts and borrow money.