First directors-appointment
35 First directors-appointment
A person who, immediately before commencement, was a member of a transitional corporation's Governing Committee is taken to be appointed, at commencement, to the position of a director of the corporation.
This item has effect despite subsection 42‑10(1A) of the new Act.
Subsection 246‑5(5) of the new Act does not prevent a person, who holds office under an appointment covered by subsection (1), from chairing directors' meetings of the transitional corporation.
Subsection 246‑1(3), section 246‑10 and subsection 304‑5(1) of the new Act do not apply in relation to an appointment covered by subitem (1).
This Act’s bill:Explanatory memorandumSecond reading speech
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