121Approvals work—registered body corporate with insufficient registered directors

121 Approvals work—registered body corporate with insufficient registered directors

121 Approvals work—registered body corporate with insufficient registered directors

(1) A registered body corporate must not carry out approvals work during a period during which the body corporate does not have at least one suitably qualified director.

Maximum penalty—3,000 penalty units.

(2) A registered body corporate that has not had at least one suitably qualified director for a continuous period of 3 months must not carry out approvals work until the body corporate—

(a) has a suitably qualified director, and

(b) has given written notice to the Secretary specifying that the body corporate now has a suitably qualified director.

Maximum penalty—3,000 penalty units.

(3) The regulations may require a registered body corporate to have a suitably qualified director in order to carry out registered work other than approvals work.

(4) In this section—

suitably qualified director, in relation to approvals work, means a director who is a registered individual whose registration authorises the individual to carry out that work.