The ‘right’ decision made for the wrong reasons! Directors are given important powers to advance and control the direction of their company. Most of these powers are to be found in the Company’s memorandum and articles of association, or in its replaceable rules (if adopted by the company). Some powers are also implied by general …
Directors’ Duties: Legal Liability for Improper Purposes Read More »
What’s ‘yours’ is mine! Historically, the rule against misuse of a directors’ position developed from the rules of Equity law. The two primary rules are that: a director must not allow his or her personal interest to ‘conflict ‘ with their duty to act for the company’s interest; and a director must not personally profit from …
Directors’ Duties: Legal Liability for Misuse of Company Information or Opportunities Read More »
Corporate Wedding Vows? Your appointment as the director of a company is an important commitment. Once the directorship is recorded in the company’s books, you are expected to perform the duties commensurate with your position. Your later registration as a director with ASIC is merely a formality. In a sense, it’s a public recognition of …
Director’s Duties: The Duty to Act Honest and in Good Faith Read More »
Company Directors’ DutiesA company director’s duties to their company‘Be careful what you wish for!’ Make no mistake! The duties imposed upon the directors of companies are onerous. And to make it worse, ‘ignorance of the law’ is no excuse! You can still be held legally liable for a breach of duty, even if you were …
Company Director’s Duties: Articles by Legal Consultant Mr. Anthony Aristei Read More »
