sec.172Board of directors

sec.172 Board of directors

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. 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. 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. The acts of a director are valid despite any defect that may afterwards be discovered in his or her appointment or qualification. (sec.172-ssec.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. (sec.172-ssec.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. (sec.172-ssec.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. (sec.172-ssec.4) The acts of a director are valid despite any defect that may afterwards be discovered in his or her appointment or qualification.