Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A public company becomes the director of a CCIV on registration if the public company is specified in the application with its consent as the proposed corporate director of the CCIV.
(2) A person becomes a member of a CCIV on registration if the person is specified in the application with their consent as a proposed member of the CCIV.
Note: The shares taken to be issued to the member are those specified in the application: see subsection 120(2).
(3) Subsection 120(1) does not apply in relation to a CCIV.