Section 29 - Effect of company constitution

(1) Subject to this Act, the constitution has the effect of a contract under seal

(a) between the company and each member or officer; and

(b) between the members or officers themselves by which they agree to observe and perform the functions contained in the constitution as amended from time to time, in so far as they relate to the company, the members or the officers.

(2) Where the constitution empowers a person to appoint or remove a director or any other officer of the company, that power is enforceable by that person although that person is not a member or officer of the company.

(3) In an action by a member or an officer to enforce an obligation owed under the constitution to that member or officer and any other member or officer, that member or officer shall, if any other member or officer is affected by the alleged breach of the obligation, sue in a representative capacity on behalf of that member or officer and all other members or officers who may be affected other than any who are defendants and the provisions of section 205 shall apply.

(4) The registered constitution of a company shall be void to the extent that it contravenes or is inconsistent with this Act.

(5) A registered constitution shall not be subject to a stamp duty.