Financial Intermediaries Act 1996
sec.103Alternate directors
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sec.103 Alternate directors
If authorised by a society’s rules, a director may appoint a person, who is eligible to be a director of the society, to be the alternate director in place of that director. The alternate director may act as a director in the absence of the director who appointed him or her. The alternate director must not be an alternate for another director. (sec.103-ssec.1) If authorised by a society’s rules, a director may appoint a person, who is eligible to be a director of the society, to be the alternate director in place of that director. (sec.103-ssec.2) The alternate director may act as a director in the absence of the director who appointed him or her. (sec.103-ssec.3) The alternate director must not be an alternate for another director.