Section 198B — Corporations Act 2001 (Cth)

(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.

Related sections

• s 196 — ASIC power to make declarations and class orders
• s 197 — Directors liable for debts and other obligations incurred by corporation as trustee
• s 198A — Powers of directors (replaceable rule—see section 135)
• s 198C — Managing director (replaceable rule—see section 135)
• s 198D — Delegation
• s 198E — Single director/shareholder proprietary companies

Research how courts apply s 198B

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.