Co-operatives National Law (NSW)
172Board of directors
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172 Board of directors
172 Board of directors
(1) Subject to this Law and the rules of the co-operative, the business of a co-operative is to be managed by a board of directors.
(2) The board must consist of at least 3 directors (not counting alternates of directors) and at least 2 of the directors must be ordinarily resident in Australia.
(3) The board of directors may exercise all the powers of the co-operative that are not, by this Law or the rules of the co-operative, required to be exercised by the co-operative in general meeting.
(4) The acts of a director are valid despite any defect that may afterwards be discovered in his or her appointment or qualification.