Facebook Icon briefcase Icon Document Icon Owl Icon Rocket LinkedIn Mail Twitter WhatsApp

What are the consequences if a director fails in these duties?

The Corporations Act states that a director who fails to perform their substantive duties:

  • may be guilty of a criminal offence with a penalty of 2,000 penalty units or imprisonment for up to 5 years, or both; and
  • may contravene a civil penalty provision (and the Court may order the person to pay to the Commonwealth an amount of up to $200,000).

Recent News & Articles

SA Land Tax Reform Package Enacted

The South Australian Land Tax (Miscellaneous) Amendment Act 2019 has now been enacted and includes a package of reforms developed by the State Government. Read on...

Read article

IPA Small Business Summit 2019

Thanks for stopping by our sponsor stand at yesterday’s IPA Small Business Summit – it was great to see you. Read on...

Read article

ABN Registration for businesses outside …

Many of our overseas clients write to us to clarify the registration and compliance requirements of undertaking business in Australia. Obtaining an ABN is a key component of that, and...

Read article