(1) Unless the articles or bye-laws of, or any unanimous shareholder agreement relating to, the company otherwise provide, the directors of the company may, without authorisation of the shareholders—
(a) borrow money upon the credit of the company;
(b) issue, re-issue, sell or pledge debentures of the company;
(c) subject to section 53, give a guarantee on behalf of the company to secure performance of an obligation of any person; and
(d) mortgage, charge, pledge, or otherwise create to secure any obligation of the company or any other person a security interest in all or any property of the company that is owned or subsequently acquired by the company.
(2) Despite section 82(2) and section 95(a), unless the articles or bye-laws of, or any unanimous shareholder agreement relating to, a company otherwise provide, the directors of the company may by resolution delegate the powers mentioned in subsection (1) to a director, a committee of directors or any officer of the company.
Duty of Directors and Officers