Mary attended a general meeting of the members of Contrary Ltd.

Please help with my question

Mary is a shareholder in Contrary Ltd, a company without a constitution.

Mary attended a general meeting of the members of Contrary Ltd. There were 2 items of business considered at the meeting and these were inserted into a new constitution of the company. These were:

1. The company's business will be restricted to producing A-Rated videos. A members' resolution is required before the directors can diversify into any other business.
2. Only New Zealand residents can be directors of the company.
3. The Board of Directors are required to obtain members approval for borrowings over $10 million.