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CORPORATIONS ACT 2001

CHAPTER 2B - BASIC FEATURES OF A COMPANY  

PART 2B.1 - COMPANY POWERS AND HOW THEY ARE EXERCISED  

SECTION 125  CONSTITUTION MAY LIMIT POWERS AND SET OUT OBJECTS  

125(1)  [Limitations in constitution]  


If a company has a constitution, it may contain an express restriction on, or a prohibition of, the company's exercise of any of its powers. The exercise of a power by the company is not invalid merely because it is contrary to an express restriction or prohibition in the company's constitution.

125(2)  [Company's objects]  


If a company has a constitution, it may set out the company's objects. An act of the company is not invalid merely because it is contrary to or beyond any objects in the company's constitution.

 



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