Inconsistent alterations to TABQ group companies’ constitutions have no effect

Current

(1)

A resolution of a TABQ group company that would, apart from this subsection, have the effect of the company ceasing to have a constitution or of altering the company’s constitution so that the constitution would not comply with section 44(2) or (3) has no effect.

(2)

A resolution of the company has no effect if the resolution would—

(a)

if acted on and apart from this subsection—result in a contravention of the mandatory constitutional requirements; or

(b)

apart from this subsection—ratify an act or omission contravening the mandatory constitutional requirements.

This Act’s bill:Explanatory memorandum

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45 Inconsistent alterations to TABQ group companies’ constitutions have no effect