Commonwealth Numbered Acts
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CORPORATIONS ACT 2001 - SECT 198A
Powers of directors (replaceable rulesee
section 135 )
(1) The business of a company is to be managed by or under
the direction of the directors.
- Note: See section 198E for special
rules about the powers of directors who are the single director/shareholder of
(2) The directors may exercise all the powers of the company except any powers
that this Act or the company's constitution (if any) requires the company to
exercise in general meeting.
- Note: For example, the directors may issue
shares, borrow money and issue debentures.
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