Basketball Operations Manual - Basketball New Zealand

5.2 Board’s powers to issue shares Subject to the Act and this Constitution, the Board may
not issue shares at any time to any other person other than Basketball New Zealand nor
can it issue to Basketball New Zealand any shares that have any rights other than that
expressly set out in clause 4.1 of this constitution.
6 No Distribution to Shareholder
6.1 The Board may not at any time distribute or authorise any distribution by way of dividends
or otherwise by the Company in any amount to its shareholder, Basketball New
Zealand.
7 No Transfer of Share
7.1 The Board of the Company must not register any transfer of any shares in the Company.
The shareholder of the Company is and shall at all times remain Basketball New Zealand.
8 Franchise Agreements
8.1 Subject to clause 8.2, 8.3 and 8.4 the Company shall enter into Franchise Agreements
with Franchises:
(a) As selected by the Board from time to time in its sole discretion;
(b) To enable participation by Franchisees in the League;
(c) For three year terms for either the 2005–2007 or 2008–2010, League Playing Seasons.
8.2 Each Existing Franchisee shall be granted a franchise on the terms set out in the Franchise
Agreement to participate in the National Basketball League in accordance with the
Franchise Agreement for the 2005, 2006 and 2007 League Playing Seasons.
8.3 The Company will not enter into an additional Franchise Agreements for any of the
2005, 2006 and 2007 League Playing Seasons; unless it is with a successor to, or a replacement
of, an Existing Franchisee where a Franchise Agreement has, during that
period, been assigned, or terminated as the case may be.
(a)
If, by 30 September 2006, the Board decides for the 2008–2010 League Playing
Seasons to increase the number of teams to participate in the League from the
number of Franchises playing in the 2007 League Playing Season; then it shall
offer a Franchise Agreement for the 2008–2010 League Playing Seasons:
• If an Existing Franchisee has participated in the 2007 League Playing Season;
then to such Existing Franchisee; and
• To such other Franchise corporation(s) as the Board shall select in its sole
discretion following such selection process as the Board shall determine;
after consultation with the Franchise Council.
9 Directors
9.1 Number of Directors.
The Company shall have no less than two nor more than 5 directors.
9.2 Appointment of Directors.
(a) Directors shall be appointed to, or removed from, the Board on the resolution of
the Board of Basketball New Zealand. Such a resolution can relate to more than
one director.
22 2007 NBL Operations and Rules Manual