What Are Your Legal Duties As a Director?
Legal duties apply to anyone involved in the governing of their company or incorporated association, whether operates for profit or not-for-profit. It extends to anyone who has “control or influence” over the governance of an organization, even if they do not hold an official position.
The 4 main duties are:
Other sources of personal liability for directors come from other laws including Tax, WHS, Consumer, Employment and Environment legislation or other law specific to their industry. The “business judgement rule” can provide some defence at law but it has limitations. An indemnity clause in your rules or Constitution also has some significant limitations as well, which a lawyer can advise on.
Remember if I can be of any help to your business simply email at info@tappadvisory.com.au or ring me on 0411111588 and I will be happy to assist, at no cost to you.
Warren Tapp
Tapp Advisory, Business Consulting Gold Coast.
Business Profits Made Easy.
Resources from the Tapp Advisory Store:
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Board Basics – Hard Copy – A simple introduction to the roles and responsibilities of Directors on Boards. It is a non- technical book you can use as a handy reference guide if you report to a Board, or you are appointed to one in Australia. It is a 68- page paperback.
Questions for Company Directors – Hard Copy
The book ‘Questions for Company Directors’ is a simple handbook to inform directors about the questions they need to put to management as part of their oversight role.
Directors should keep this book handy at all times – and keep asking those questions!
You may be interested in…
Club Board Training to improve your Club Governance
Club Governance Online Training Program is for all Board and Committee Members
Does your Organisation’s Board, Committee and each of the Directors know how to do their jobs?
Now there is a solution to ensuring your Board or Committee know how to do their job and protect your Organisation!
Club Governance Online Training Program is for all Board and Committee Members
Does your Organisation’s Board, Committee and each of the Directors know how to do their jobs?
Now there is a solution to ensuring your Board or Committee know how to do their job and protect your Organisation!
Got a question? Or need a hand?
Please contact me for an obligation free chat.
