Does the law sets requirements for what can or cannot be inside a Company Constitution?
<p>This is for the best interest of share holders.</p>

<p>Say someone puts an outrageous statement in the constitution, such as making a clause that he's a permanent director on the board.</p>

<p>This is a general question.
To be specific, I live in Australia, and I'm referring to a proprietary limited company.</p>

<h2>Yes</h2>

<p>It’s in the <a href="http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/" rel="nofollow noreferrer">Corporations Act 2001</a>.</p>

corporate-law incorporation