Board of directors
197 Board of directors
Subject to this Act and the rules of the co‑operative, the business of a co‑operative is to be managed by a board of directors.
The board must consist of at least 3 directors (not counting alternates of directors) and at least 2 of the directors must be ordinarily resident in Australia.
The board of directors may exercise all the powers of the co‑operative that are not, by this Act or the rules of the co‑operative, required to be exercised by the co‑operative in a general meeting or by postal ballot.
The acts of a director are valid despite any defect that may afterwards be discovered in his or her appointment or qualification.
[Section 197 amended: No. 7 of 2016 s. 56.]
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