Duty to Disclose Material Personal Interest Under the Corporations Act
We understand that balancing business and personal matters can be challenging, and sometimes the lines between the two can be blurred, especially for a director of a company. People who you meet through business can easily become friends, or may be considered family and it is easy to forget about your duty as a director to disclose material personal interests. No matter what the circumstances may be, being proactive is usually better than being reactive in the context of director duties, and seeking independent legal advice early can often lead to a more favourable outcome. In any case, if allegations have been raised...
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