Exemptions – officers

Corporations can ask for exemptions from requirements about:

Maximum number of directors

A corporation must have no more than 12 directors.

The Registrar can exempt a corporation from this requirement. 

When exempt, the corporation’s rule book must state the maximum number of directors the corporation can have according to the exemption. 

Maximum term of appointment for a director

A director must not be appointed for more than 2 years. 

The Registrar can exempt a corporation from the maximum term of 2 years

Corporations should keep in mind that exemptions can be provided for time limited periods and can be varied or revoked.

When exempt, a corporation’s directors can serve for more than 2 years without needing to be reappointed by members; the corporation’s rule book must state the length of director terms according to the exemption.

Learn more in our position statement on director terms.

The CATSI Act says that members must approve giving a financial benefit to someone related to the corporation unless it is for a circumstance that doesn't require member approval.

The Registrar can exempt a corporation from these requirements.

Learn more about related party benefits in our fact sheets and policy statement.

Fact sheets

Policy statement

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