Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p78
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 78/175)
Character Range: 368246–370957

to be managed by or under the direction of the directors.
 (2) The directors may exercise all the powers of the corporation except any powers that this Act or the corporation's constitution requires the corporation to exercise in general meeting.
Note: For example, the directors may enter into contracts and borrow money.

274‑5  Negotiable instruments (replaceable rule—see section 60‑1)
 (1) Any 2 directors of an Aboriginal and Torres Strait Islander corporation that has 2 or more directors, or the director of an Aboriginal and Torres Strait Islander corporation that has only 1 director, may sign, draw, accept, endorse or otherwise execute a negotiable instrument.
 (2) The directors may determine that a negotiable instrument may be signed, drawn, accepted, endorsed or otherwise executed in a different way.

274‑10  Delegation
 (1) Unless the corporation's constitution provides otherwise, the directors of an Aboriginal and Torres Strait Islander corporation may by resolution delegate any of their powers to:
 (a) a committee of directors; or
 (b) a director; or
 (c) an employee of the corporation; or
 (d) any other person.
 (2) The delegate must exercise the powers delegated in accordance with any directions of the directors.
 (3) The exercise of the power by the delegate is as effective as if the directors had exercised it.

274‑15  Right of access to corporation books

Right while director
 (1) A person who is a director of an Aboriginal and Torres Strait Islander corporation may inspect the books of the corporation (other than its financial records) for the purposes of a legal proceeding:
 (a) to which the person is a party; or
 (b) that the person proposes in good faith to bring; or
 (c) that the person has reason to believe will be brought against him or her.
Note 1: Section 322‑25 gives the director a right of access to financial records.
Note 2: See also section 376‑1.

Right during 7 years after ceasing to be director
 (2) A person who has ceased to be a director of an Aboriginal and Torres Strait Islander corporation may inspect the books of the corporation (including its financial records) for the purposes of a legal proceeding:
 (a) to which the person is a party; or
 (b) that the person proposes in good faith to bring; or
 (c) that the person has reason to believe will be brought against them.
This right continues for 7 years after the person ceased to be a director of the corporation.
Note: See also section 376‑1.

Right to take copies
 (3) A person authorised to inspect books under this section for the purposes of a legal proceeding may make copies of the books for the purposes of those proceedings.

Corporation not to refuse access
 (4) An Aboriginal