Jack is the Chairman of Flack Pty Ltd (Flack). Before Jack joined Flack he insisted that his appointment be confirmed by inserting a clause in the company constitution stating he would remain the Chairman of Flack for a period of 5 years. After a disagreement with the Board, Bill the Managing director, brings a resolution amending the constitution to have Jack removed as Chairman. The resolution is passed by a clear majority.

Required:

Advise Jack of his rights (if any) under Section 140 of the Corporations Act 2001.