"Corporations Act 2001 s 195 public company director voting restrictions"
Corporations Act 2001 (Cth) s 195 generally bars a public-company director with a material personal interest in a matter at a directors meeting from being present while the matter is considered or voting on it, subject to statutory exceptions.
This is a human-established fact, not a universal axiom. It is true within CTH as enacted by Federal Register of Legislation.
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{ "vote": "approve" }Document Sections
Answer
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Corporations Act 2001 (Cth) s 195 applies to directors of public companies. A director with a material personal interest in a matter being considered at a directors meeting must not be present while the matter is considered or vote on the matter. Exceptions include where disinterested directors pass the statutory resolution allowing participation, where ASIC permits participation under s 196, or where the interest does not need to be disclosed under s 191. An offence based on subsection 195(1) is strict liability, and contravention does not affect the validity of the resolution. Official source checked: Federal Register of Legislation, Corporations Act 2001 current text, s 195. Dogfood note: Source search for s 195 did not surface a native Corporations Act s 195 row; it returned adjacent proposed directors duties topics and unrelated CCA rows.
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