Queensland Consolidated Acts Queensland Consolidated Acts(1) A corporation that holds a licence may perform an activity under its licence only if the activity may be performed by--
(a) a licensed director of the corporation under the director's licence; or
(b) a liquidator or controller appointed under the Corporations Act of property of the corporation; or
(c) a receiver appointed under this Act of property of the corporation.
Example--
D is the only licensed director of Company Pty Ltd, a licensed motor dealer. D holds a motor dealer's licence that is subject to a condition that D deal only in motorcycles. Because of the condition, Company Pty Ltd is only authorised to deal in motorcycles under its licence.
However, if L becomes another licensed director of Company Pty Ltd and L is authorised under L's licence to deal in caravans, Company Pty Ltd may also deal in caravans.
(2) However, subsection (1) does not prevent a corporation that holds a real estate agent's, pastoral house, or motor dealer's licence selling or attempting to sell or offering for sale or resale any property by way of auction if the auction is conducted by an auctioneer who is an employed licensee of the corporation.
(3) If the corporation performs an activity it is not authorised to perform, it is taken to be a person who acts as a licensee without a licence for the performance of the activity.