198B
In forceNegotiable instruments (replaceable rule—see section 135)
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 2DOfficers and employees
Part 2D.1Duties and powers
Division 4Powers
198B Negotiable instruments (replaceable rule—see section 135)
(1)
Any 2 directors of a company that has 2 or more directors, or the director of a proprietary company that has only 1 director, may sign, draw, accept, endorse or otherwise execute a negotiable instrument.
(2)
The directors may determine that a negotiable instrument may be signed, drawn, accepted, endorsed or otherwise executed in a different way.
This Act’s bill:Explanatory memorandumSecond reading speech
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