Corporations Act - Australia

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in attending any general meetings of the company; and

      (c) in connection with the company’s business.

      202B Members may obtain information about directors’ remuneration

      (1) A company must disclose the remuneration paid to each director of the company or a subsidiary (if any) by the company or by an entity controlled by the company if the company is directed to disclose the information by:

      (a) members with at least 5 % of the votes that may be cast at a general meeting of the company; or

      (b) at least 100 members who are entitled to vote at a general meeting of the company.

      The company must disclose all remuneration paid to the director, regardless of whether it is paid to the director in relation to their capacity as director or another capacity.

      (1A) An offence based on subsection (1) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      (2) The company must comply with the direction as soon as practicable by:

      (a) preparing a statement of the remuneration of each director of the company or subsidiary for the last financial year before the direction was given; and

      (b) having the statement audited; and

      (c) sending a copy of the audited statement to each person entitled to receive notice of general meetings of the company.

      202C Special rule for single director/single shareholder proprietary companies

      A person who is the only director and the only shareholder of a proprietary company is to be paid any remuneration for being a director that the company determines by resolution. The company may also pay the director’s travelling and other expenses properly incurred by the director in connection with the company’s business.

      Division 3 — Resignation, retirement or removal of directors

      203A Director may resign by giving written notice to company (replaceable rule — see section 135)

      A director of a company may resign as a director of the company by giving a written notice of resignation to the company at its registered office.

      203B Signpost to consequences of disqualification from managing corporations

      A person ceases to be a director of a company if the person becomes disqualified from managing corporations under Part 2D.6 (see subsection 206A(2)) unless ASIC or the Court allows them to manage the company (see sections 206F and 206G).

      203C Removal by members — proprietary companies (replaceable rule — see section 135)

      A proprietary company:

      (a) may by resolution remove a director from office; and

      (b) may by resolution appoint another person as a director instead.

      203D Removal by members — public companies

      Resolution for removal of director

      (1) A public company may by resolution remove a director from office despite anything in:

      (a) the company’s constitution (if any); or

      (b) an agreement between the company and the director; or

      (c) an agreement between any or all members of the company and the director.

      If the director was appointed to represent the interests of particular shareholders or debenture holders, the resolution to remove the director does not take effect until a replacement to represent their interests has been appointed.

      Note: See sections 249C to 249G for the rules on who may call meetings, sections 249H to 249M on how to call meetings and sections 249N to 249Q for rules on members’ resolutions.

      Notice of intention to move resolution for removal of director

      (2) Notice of intention to move the resolution must be given to the company at least 2 months before the meeting is to be held. However, if the company calls a meeting after the notice of intention is given under this subsection, the meeting may pass the resolution even though the meeting is held less than 2 months after the notice of intention is given.

      Note: Short notice of the meeting cannot be given for this resolution (see subsection 249H(3)).

      Director to be informed

      (3) The company must give the director a copy of the notice as soon as practicable after it is received.

      Director’s right to put case to members

      (4) The director is entitled to put their case to members by:

      (a) giving the company a written statement for circulation to members (see subsections (5) and (6)); and

      (b) speaking to the motion at the meeting (whether or not the director is a member of the company).

      (5) The written statement is to be circulated by the company to members by:

      (a) sending a copy to everyone to whom notice of the meeting is sent if there is time to do so; or

      (b) if there is not time to comply with paragraph (a) — having the statement distributed to members attending the meeting and read out at the meeting before the resolution is voted on.

      (6) The director’s statement does not have to be circulated to members if it is more than 1,000 words long or defamatory.

      Time of retirement

      (7) If a person is appointed to replace a director removed under this section, the time at which:

      (a) the replacement director; or

      (b) any other director;

      is to retire is to be worked out as if the replacement director had become director on the day on which the replaced director was last appointed a director.

      Strict liability offences

      (8) An offence based on subsection (3) or (5) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      203E Director cannot be removed by other directors — public companies

      A resolution, request or notice of any or all of the directors of a public company is void to the extent that it purports to:

      (a) remove a director from their office; or

      (b) require a director to vacate their office.

      203F Termination of appointment of managing director (replaceable rule — see section 135)

      (1) A person ceases to be managing director if they cease to be a director.

      (2) The directors may revoke or vary an appointment of a managing director.

      Part 2D.4 — Appointment of secretaries

      204A Minimum number of secretaries

      Proprietary companies

      (1) A proprietary company is not required to have a secretary but, if it does have 1 or more secretaries, at least 1 of them must ordinarily reside in Australia.

      Public companies

      (2) A public company must have at least 1 secretary. At least 1 of them must ordinarily reside in Australia.

      Strict liability offences

      (3) An offence based on

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