The replaceable rules are a uniform set of rules that you can use for your company's internal governance. In the absence of a company constitution, the replaceable rules will apply. This will generally override the operation of the replaceable rules.

How do the replaceable rules work?

Replaceable rules are in the Corporations Act and are a basic set of rules for managing your company. If a company doesn't want to have a constitution, they can use the replaceable rules instead. ... Replaceable rules outlined details the rules outlined in the Corporations Act and which section they're in.

How many replaceable rules are there?

The Act lists 39 replaceable rules that companies can adopt as part of their internal governance structure.