INFO 23
Constitution and replaceable rules
This is Information Sheet 23 (INFO 23). A company’s internal management may be governed by:.
In plain English
INFO 23 explains how a company's internal management is governed by its constitution or replaceable rules.
INFO 23 applies to companies registered in Australia. It outlines the options for a company's internal rules. Companies can adopt a constitution, modify the replaceable rules, or use the replaceable rules as they are. This information sheet explains these choices. It does not state when this guidance came into effect.
Why it matters
Understanding your company's constitution or replaceable rules is vital for good governance. It defines how decisions are made and how the company operates. Review these rules to ensure they align with your business practices.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Issuing regulator
ASIC →Topics
Source: https://www.asic.gov.au/for-business/registering-a-company/steps-to-register-a-company/constitution-and-replaceable-rules/. Rules Mate indexes + summarises; always verify against the regulator's live publication.