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This legislation has been repealed.

CORPORATIONS LAW- SECT 198B

Negotiable instruments (replaceable rule—see section 135)

 
 
(1)
Any 2 directors of a company that has 2 or more
directors, or the director of a proprietary company that has only 1 director,
may sign, draw, accept, endorse or otherwise execute a negotiable
instrument.


(2)
The directors may determine that a negotiable instrument may be
signed, drawn, accepted, endorsed or otherwise executed in a different way.