98Power to alter body corporate’s constitution etc.

98 Power to alter body corporate’s constitution etc.

(1) The statutory manager of a body corporate may alter the body corporate’s constitution or other arrangements for governance if the alteration is reasonably necessary for enabling or facilitating:

(a) the performance of the statutory manager’s functions and duties under this Part in relation to the body corporate; or

(b) the exercise of the statutory manager’s other powers under this Part in relation to the body corporate.

This section does not permit transfers of shares or business

(2) This section does not permit the statutory manager to effect a transfer of all or part of the shares in the body corporate or a total or partial transfer of the business of the body corporate, other than in accordance with Division 5 (compulsory transfers).

Exercise of powers despite other laws etc.

(3) A statutory manager may do an act under subsection (1) despite all of the following:

(a) this Act (other than subsection 200(3)) or any legislative instrument made under this Act;

(b) the Corporations Act 2001 or any legislative instrument made under that Act;

(c) the body corporate’s constitution;

(d) any arrangement to which the body corporate is party;

(e) any listing rules of a financial market in whose official list the body corporate is included.