sec.140Member’s nominee

sec.140 Member’s nominee

This section applies to a member of a principal body corporate for appointing a person (a nominee ) to represent and vote on behalf of the member at meetings of the principal body corporate. A subsidiary body corporate of the principal body corporate— must appoint a nominee at its annual general meeting; and otherwise, may appoint a nominee from time to time. A member of the principal body corporate, other than a subsidiary body corporate, may appoint a nominee from time to time. Subject to section 140A , a nominee appointed by a subsidiary body corporate must be a member of the subsidiary body corporate. The appointment of a nominee has no effect until written notice of the appointment is received by the secretary of the principal body corporate. A nominee appointed by a subsidiary body corporate must represent the subsidiary body corporate— in the way the subsidiary body corporate directs; and subject to paragraph (a) , in a way that is in the best interests of the subsidiary body corporate. The appointment of a nominee for a member ends when the first of the following happens— the end of 1 year after the appointment; the secretary of the principal body corporate receives written notice of— the cancellation of the nominee’s appointment; or the appointment of another nominee for the member. A written notice under subsection (5) or (7) (b) must be signed— for an appointment or cancellation made by a subsidiary body corporate—by the chairperson and secretary of the subsidiary body corporate; or otherwise—by the member. s 140 amd 2004 No. 53 s 2 sch sub 2009 No. 26 s 31 (sec.140-ssec.1) This section applies to a member of a principal body corporate for appointing a person (a nominee ) to represent and vote on behalf of the member at meetings of the principal body corporate. (sec.140-ssec.2) A subsidiary body corporate of the principal body corporate— must appoint a nominee at its annual general meeting; and otherwise, may appoint a nominee from time to time. (sec.140-ssec.3) A member of the principal body corporate, other than a subsidiary body corporate, may appoint a nominee from time to time. (sec.140-ssec.4) Subject to section 140A , a nominee appointed by a subsidiary body corporate must be a member of the subsidiary body corporate. (sec.140-ssec.5) The appointment of a nominee has no effect until written notice of the appointment is received by the secretary of the principal body corporate. (sec.140-ssec.6) A nominee appointed by a subsidiary body corporate must represent the subsidiary body corporate— in the way the subsidiary body corporate directs; and subject to paragraph (a) , in a way that is in the best interests of the subsidiary body corporate. (sec.140-ssec.7) The appointment of a nominee for a member ends when the first of the following happens— the end of 1 year after the appointment; the secretary of the principal body corporate receives written notice of— the cancellation of the nominee’s appointment; or the appointment of another nominee for the member. (sec.140-ssec.8) A written notice under subsection (5) or (7) (b) must be signed— for an appointment or cancellation made by a subsidiary body corporate—by the chairperson and secretary of the subsidiary body corporate; or otherwise—by the member.