Does the law sets requirements for what can or cannot be inside a Company Constitution?

Question

This is for the best interest of share holders.

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

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

Answer 1

Yes

It’s in the Corporations Act 2001.