Section 1225C — Corporations Act 2001: Extended obligation of directors of corporate director

(1) For the purposes of Division 2 of Part 2D.1, a material personal interest in a matter that relates to the affairs of a CCIV is treated as being a material personal interest in a matter that relates to the affairs of the corporate director of the CCIV. Note: The effect of this subsection is that Division 2 of Part 2D.1 applies to directors of the corporate director of a CCIV in relation to material personal interests those directors have in matters relating to the affairs of the CCIV. (2) Subsection (1) does not affect the operation of Division 2 of Part 2D.1 in relation to an interest that, apart from that subsection, is a material personal interest in a matter that relates to the affairs of the corporate director. (3) For an offence based on subsection 191(1), as it applies to the director of a corporate director as a result of subsection (1) of this section, strict liability applies to the circumstance, that the director of the corporate director has a material personal interest in a matter that relates to the affairs of the CCIV. (4) For the purposes of determining under subsection 191(2) whether the director does not need to give notice of the interest, references in that subsection to the company are taken to be references to the CCIV, unless the reference is to the director’s position as director, or officer, of the company. (5) Nothing in this section limits: (a) the effect sections 191 and 192 have in relation to the director of the corporate director apart from this Subdivision; or (b) the effect section 193 has in relation to sections 191 and 192 as those sections apply as a result of this section. Note: Section 193 is about the interaction of sections 191 and 192 with other laws etc.