Section 201N — Corporations Act 2001 (Cth)

(1) This Subdivision applies in relation to a public company if its constitution allows its directors to set a limit (a board limit) whose effect is to restrict the number of directors of the company to a number less than the maximum number of directors specified in the constitution.

Note: This Subdivision applies however the constitution or board limit is expressed.

(2) If a company’s constitution provides that the maximum number of directors is either a specified number or another number determined by the directors:

(a) any number determined by the directors that is lower than the specified number is a board limit; and

(b) any lowering by the directors of that lower number is also a board limit.

(3) Subsection (2) does not limit, and is not limited by, subsection (1).

Related sections

• s 201K — Alternate directors (replaceable rule—see section 135)
• s 201L — Signpost—ASIC to be notified of appointment
• s 201M — Effectiveness of acts by directors
• s 201P — Directors must not set board limit unless proposed limit has been approved by general meeting
• s 201Q — Requirements for explanatory statement to members
• s 201R — Records of voting on board limit resolution if poll required

Research how courts apply s 201N

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