Section 1224J — Corporations Act 2001: 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.