Corporations Act 2001
201AMinimum number of directors
Start here
Get a plain-English read of 201A
Turn the raw legal text into a practical explanation grounded in Corporations Act 2001.
201A Minimum number of directors
Proprietary companies (1) A proprietary company must have at least 1 director. That director must ordinarily reside in Australia. (1A) However, a proprietary company must have at least 2 directors while the company has one or more CSF shareholders. Of those directors: (a) if there are only 2 of them—at least one of them must ordinarily reside in Australia; or (b) otherwise—a majority of them must ordinarily reside in Australia.
Note: The company must also have at least 2 directors when making the CSF offer (see paragraph 738H(1)(a)).
Public companies (2) A public company must have at least 3 directors (not counting alternate directors). At least 2 directors must ordinarily reside in Australia.