Breach of Common Director Duties under the Corporations Act
Introduction Being a director or an officeholder of a company may come with many perks and financial benefits, but it also comes with risks and legal obligations. Certain officers of a company may also have the same obligations as a director of a company. Directors and secretaries have certain obligations imposed on them by the Corporations Act 2001 (‘Act’) and are referred to as ‘director duties’. There are other duties which arise under the common law and other legislation relating to employment, work health and safety, taxation and consumer protection. No matter how the duty arises, it is imperative that a person is...
Continue reading