Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.3 - CORPORATE GOVERNANCE OF CCIVs  

Division 2 - Officers and employees of the CCIV  

Subdivision A - Officers and employees generally  

SECTION 1224   A CCIV HAS A SINGLE CORPORATE DIRECTOR  

A CCIV may only have one director

1224(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

1224(2)    
The position of director of a CCIV is the position of corporate director.

1224(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

1224(4)    
There is no position of alternate director of a CCIV.

1224(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

1224(6)    
This section does not limit the operation of paragraph (b) of the definition of director in section 9 in relation to a CCIV.