Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1224J

             (1)  The corporate director of a CCIV is to:

                     (a)  operate the business and conduct the affairs of the CCIV; and

                     (b)  perform the functions conferred on the corporate director by the CCIV's constitution and this Act.

Note 1:       If a CCIV commits an offence or contravenes a civil penalty provision, the corporate director is generally responsible: see Division 7 of this Part.

Note 2:       Section 1224Q is about the exercise of powers by the corporate director while a sub-fund is in liquidation.

             (2)  The corporate director of a CCIV may exercise all the powers of the CCIV except any powers that this Act or the CCIV's constitution requires:

                     (a)  the CCIV to exercise in general meeting; or

                     (b)  the members of a sub-fund of the CCIV to exercise in a meeting of members of the sub-fund.