What are Company Directors?
A company director is a person validly appointed as director, or someone who has not been validly appointed as a director but is either acting in the capacity of a director (‘de facto director’), or someone whose instructions and wishes must be followed (‘shadow director’). You may therefore be considered a company director, even if you haven’t been officially appointed as one.
- You may be considered a company director even if you haven’t been officially appointed as one.
- Directors have wide-ranging legal obligations which carry civil and criminal consequences if breached.
- Generally, directors must put the company’s interests above their own interests, act loyally and in good faith and use care, diligence and skill in all their dealings.
- Private companies must have at least one director who ordinarily resides in Australia.
- Public companies must have at least three directors, two of whom must ordinarily reside in Australia.
If you have any questions regarding whether or not you would be considered a director or about your liability as a director, please do not hesitate to get in contact with Morrissey Law & Advisory.
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