Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_191:p2
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 191 (pt 2/2)
Character Range: 21292–22535

the company—the notice is given to that person
 (iii) the nature or extent of the interest has not materially increased above that disclosed in the notice; or
 (d) the director has given a standing notice of the nature and extent of the interest under section 192 and the notice is still effective in relation to the interest.

Note: Subparagraph (c)(ii)—the notice may be given to the person referred to in this subparagraph by someone other than the director to whose interests it relates (for example, by the secretary).

 (3) The notice required by subsection (1) must:
 (a) give details of:
 (i) the nature and extent of the interest; and
 (ii) the relation of the interest to the affairs of the company; and
 (b) be given at a directors' meeting as soon as practicable after the director becomes aware of their interest in the matter.
The details must be recorded in the minutes of the meeting.

Effect of contravention by director

 (4) A contravention of this section by a director does not affect the validity of any act, transaction, agreement, instrument, resolution or other thing.

Section does not apply to single director proprietary company

 (5) This section does not apply to a proprietary company that has only 1 director.