Commonwealth Consolidated Acts

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Corporate director must operate the CCIV

  (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.

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