Division 1 - Resolutions and declarations without meetings
SECTION 248BRESOLUTIONS AND DECLARATIONS OF 1 DIRECTOR PROPRIETARY COMPANIES
The director of a proprietary company that has only 1 director may pass a resolution by recording it and signing the record.
The director of a proprietary company that has only 1 director may make a declaration by recording it and signing the record. Recording and signing the declaration satisfies any requirement in this Act that the declaration be made at a directors' meeting.
Note 1: For directors' declarations, see sections 295 and 494.
Note 2: Passage of a resolution or the making of a declaration under this section must be recorded in the company's minute books (see section 251A).