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Replaceable Rules RR After 1798 Cos no longer need to draw up constitution S141 lists the sections in the CL that are RR S143 Companys constitution Can be - Replaceable Rules RR - Own constitution - Mixture of above The term replaceable rules allow a company to replace either all or some of the rules with appropriate rules in the companys own constitution Where the CA states a replaceable rule for proprietary companies and mandatory rule for public companies the section will apply as an ordinary provision of the CA for public companies It means that public companies will not be able to modify or delete the provision whereas a proprietary will be able to make a change At the present time only one section CA s249X will be mandatory for public companies This section to a large extent reflects the previous section CL s250 dealing with the appointment of proxies Important Replaceable Rules RR The more important replacement rules are covered below CA s201H RR Directors may appoint other directors Under CA 201H 2 the person who is to be appointed as a director by the other directors must be confirmed in that position within 2 months if the company is a proprietary company If the members do not make the confirmation then the person ceases to be a director CA s201K RR Alternate Directors It provides that an alternate director can be appointed by another director with the approval of the other directors An alternate director is only entitled to notice of a directors meeting if the appointing director requires the company to give such notice CA s198K RR Negotiable Instruments By permitting any 2 directors of a company that has more than 2 directors to execute a negotiable instrument It also provides for a single director of a single director proprietary company to execute a negotiable instrument CA s201J RR Managing Director It
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