Replaceable Rules (RR) * After 1/7/98 Co's no longer need to draw up constitution. * S.141 lists the sections in the CL that are RR * S.143: Company's 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 company's own constitution. Where the CA states a "replaceable rule for proprietary companies and mandatory rule …showed first 75 words of 1013 total…

…showed last 75 words of 1013 total…number of directors as determined by the directors and in the absence of a determination is 2; the individuals attending as proxies or corporate representatives are to be counted towards a quorum. Finally, if the clause is valid by vote on, all the directors would be bind of this provision. To sum up, the replaceable rules allow a company to replace either all, or some of the rules, with appropriate rules in the company's own constitution.