A CCIV may only have one director
(1) A CCIV must not appoint more than one director.
Note: For who can be the director of a CCIV, see sections 1224F and 1224G.
Position of director is the position of corporate director
(2) The position of director of a CCIV is the position of corporate director.
(3) Corporate director of a CCIV means the company named in ASIC's record of the CCIV's registration as the corporate director or temporary corporate director of the CCIV.
Note: The corporate director is first appointed through the registration process for the CCIV: see sections 1222A and 1222D.
No alternate directors
(4) There is no position of alternate director of a CCIV.
(5) The corporate director of a CCIV commits an offence if the corporate director appoints an alternate director.
Note: For the corporate director's power to appoint an agent, see section 1224L.
Definition of director not limited
(6) This section does not limit the operation of paragraph (b) of the definition of director in section 9 in relation to a CCIV.