"She'd still obviously get her cut of record sales but wouldn't be involved in any decision-making like going on tour or performing.
"Victoria signing the confirmation papers as a director for another year shows she's still an active member of The Spice Girls."
The last time all five members performed together was at the 2012 London Olympics.
Victoria's filing comes days after Melanie C told fans to "ask Geri" about a Spice Girls reunion.
The 48-year-old pop star was playing a solo concert in London when a fan asked about the rumours that the girls will reunite for the Queen's Jubilee this summer.
She said: "You're going to need to ask Geri about that one. We have not discussed it yet."
The comment followed a report by the newspaper alleging that the 'Say You'll Be There' hitmakers had been invited to perform to mark the monarch's 70th year on the throne.
A source said: "BBC bosses are determined to put on a show to remember and what band is more iconic than the Spice Girls?
"The invitation has been made and it's now in the hands of the girls. It's no secret they regret turning down a similar opportunity for the Diamond Jubilee and they all have a deep respect for the Royal Family and the Queen."