Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 No. 50, 2001 - SECT 927

Management sub-committee

(1) The Board may, by resolution, appoint a management sub-committee of not fewer than 3 nor more than 5 persons, at least one of whom is a member of the Board. (2) The Board may, by resolution, delegate to a sub-committee appointed by it under this section all or any of its powers, authorities and discretions under a provision of this Part (other than this section, section 944, and subsections 954(5), 954F(2), 954Q(2), 954Y(2), 959(3), 961E(3) and 969(3)). (3) A power, authority or discretion delegated under subsection (2) may be exercised by members forming a majority of the sub-committee as if that power, authority or discretion had been conferred by this Part on a majority of the members of the sub-committee. (4) A delegation by the Board under this section may, at any time, by resolution of the Board, be varied or revoked. (5) The Board may at any time, by resolution, remove a member of a sub-committee appointed by it under this section and may, by resolution, fill a vacancy arising in the membership of the sub-committee. (5A) A delegation under this section continues in force even if there is a change in the membership of the Board or of the sub-committee. (6) Any power, authority or discretion exercised under this section by, or by a majority of, a sub-committee is taken to have been exercised by the Board. (7) Any remuneration or expenses paid to a member of a sub-committee appointed under this section are taken to be expenses incurred in the administration of the Fund.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback