Document ID: chunk:federal_register_of_legislation:C2025C00185:section:201a
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 201A
Character Range: 616605–617350

201A  Minimum number of directors

Proprietary companies
 (1) A proprietary company must have at least 1 director. That director must ordinarily reside in Australia.
 (1A) However, a proprietary company must have at least 2 directors while the company has one or more CSF shareholders. Of those directors:
 (a) if there are only 2 of them—at least one of them must ordinarily reside in Australia; or
 (b) otherwise—a majority of them must ordinarily reside in Australia.
Note: The company must also have at least 2 directors when making the CSF offer (see paragraph 738H(1)(a)).

Public companies
 (2) A public company must have at least 3 directors (not counting alternate directors). At least 2 directors must ordinarily reside in Australia.