Victorian Consolidated Legislation

Motor Car Traders Act 1986 - SECT 19A

Change in directors of bodies corporate

19A. Change in directors of bodies corporate

If a licence is granted to a body corporate and at any time-

   (a)  in the case of a proprietary company there are less than the minimum
        number of directors required under the Corporations Act in relation to
        proprietary companies of that class; or



   (b)  in the case of a public company there are less than three directors-

the body corporate must, within 14 days, cease trading as a motor car trader.
Penalty: 50 penalty units.