west aussiein the asx report, dated 8 nov - berressford mentions...

west aussie

in the asx report, dated 8 nov - berressford mentions that he will be appointing a minimum of two directors.

there is something called the corporations act - and the best that watso could come up with, was section 201h

CORPORATIONS ACT 2001 - SECT 201H
Directors may appoint other directors (replaceable rule--see section 135)

Appointment by other directors

(1) The directors of a company may appoint a person as a director. A person can be appointed as a director in order to make up a quorum for a directors' meeting even if the total number of directors of the company is not enough to make up that quorum.

Proprietary company--confirmation by meeting within 2 months

(2) If a person xxxxxx this bit not relevant xxxxx.

Public company--confirmation by next AGM

(3) If a person is appointed by the other directors as a director of a public company, the company must confirm the appointment by resolution at the company's next AGM. If the appointment is not confirmed, the person ceases to be a director of the company at the end of the AGM.
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watso is not too sure how it all works - but from memory, in the corporations act, a quorum is two directors - but it could be, that the company's constitution has set a higher number.

anyway - that is all really just a little side issue. the real issue is that about $10m has gone down the gurgler, in about one year, and the company at september 30, had a miserable $300,000 in the bank. It is most unlikely that this $300,000 would cover outstanding creditors.

it is difficult to see the company being relisted, till after there has been a capital raising.