Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 201K

Alternate directors (replaceable rule--see section 135)

             (1)  With the other directors' approval, a director may appoint an alternate to exercise some or all of the director's powers for a specified period.

             (2)  If the appointing director requests the company to give the alternate notice of directors' meetings, the company must do so.

             (3)  When an alternate exercises the director's powers, the exercise of the powers is just as effective as if the powers were exercised by the director.

             (4)  The appointing director may terminate the alternate's appointment at any time.

             (5)  An appointment or its termination must be in writing. A copy must be given to the company.

Note:          ASIC must be given notice of the appointment and termination of appointment of an alternate (see subsections 205B(2) and (5)).



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