Section 1224ZB — Corporations Act 2001 (Cth)

(1) If the corporate director of a CCIV changes, a document relating to the CCIV:

(a) to which the former corporate director is a party, in which a reference is made to the former corporate director, or under which the former corporate director has acquired or incurred a right, obligation or liability, or might have acquired or incurred a right, obligation or liability if it had remained the corporate director; and

(b) that is capable of having effect after the change;

has effect as if the new corporate director (and not the former corporate director) were a party to it, were referred to in it or had or might have acquired or incurred the right, obligation or liability under it.

(2) Subsection (1) does not apply to a right, obligation or liability that remains a right, obligation or liability of the former corporate director because of subsection 1224ZA(2).

Related sections

• s 1224Y — Members fail to appoint permanent corporate director
• s 1224Z — Former corporate director to hand over books and provide reasonable assistance
• s 1224ZA — Rights, obligations and liabilities of former corporate director
• s 1224ZC — Member approval not needed for benefit specified in constitution
• s 1224ZD — Modified member approval for CCIVs
• s 1224ZE — Benefits paid to corporate director not covered by exemptions

Research how courts apply s 1224ZB

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.