Commonwealth Consolidated Acts

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Temporary corporate director fails to initiate appointment of permanent corporate director

             (1)  This section applies if:

                     (a)  a temporary corporate director is appointed by the Court under section 1224V; and

                     (b)  the temporary corporate director fails to call a members' meeting to consider and vote on a special resolution choosing a company to be the permanent corporate director within the period applicable under subsection 1224W(3).

             (2)  An application to the Court for the appointment of a temporary corporate director of the CCIV under section 1224V may be made by any of the following:

                     (a)  ASIC;

                     (b)  a member, or group of members, of the CCIV.

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