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 B - The corporate director of a CCIV  

SECTION 1224H   EFFECTIVENESS OF ACTS BY CORPORATE DIRECTOR  

1224H(1)    
An act done by the company named in ASIC ' s record of a CCIV ' s registration as the corporate director or temporary corporate director of the CCIV is effective even if:

(a)    the company ' s appointment as corporate director or temporary corporate director did not comply with the CCIV ' s constitution or any provision of this Act; or

(b)    the continuance of the company ' s appointment as corporate director or temporary corporate director does not comply with the CCIV ' s constitution or any provision of this Act.

1224H(2)    
Subsection (1) does not deal with the question whether an effective act by a corporate director:

(a)    binds the CCIV in its dealings with other people; or

(b)    makes the CCIV liable to another person.

Note: The kinds of acts that this section validates are those that are only legally effective if the person doing them is a director (for example, calling a meeting of the company ' s members). Sections 128 to 130 contain rules about the assumptions people are entitled to make when dealing with a company and its officers.