Director's Responsibilities

A Director of a business has an obligation to ensure that a company operates at the highest possible standards, complies with the relevant legislation governing corporations and attends to basic “housekeeping” tasks appropriately.

The penalties that can be applied to Directors who fail to meet these obligations are considerable. If you are a Director of a company, the team at Coleman Greig can help you understand your role and obligations – and minimise your personal and corporate risk of liability.

We work with you and your business to ensure compliance with the legislation regarding your business practices and to ensure your business adequately communicates the rights and responsibilities of directors and maintains relevant policies and procedures to safeguard individuals.

We can help you with:

Due diligence to identify issues

Corporate governance policy

Risk assessment

Compliance manuals

Compliance training

Legal representation in Court

Advice on asset protection.

For more information, or to make an appointment at one of our offices, please select from the below.

Director's Responsibilities - Our Team

Director's Responsibilities - Our Clients

Publications

Australian Consumer Law – Casting a much wider net - 2 Jul 2021

Changes to the Australian Consumer Law, amending the definition of “consumer” are due to come into effect from 1 July 2021, and it is a timely reminder for businesses to review their terms and conditions in preparation for this change.
ASIC stamping out the flames of phoenix activity with new director resignation rules - 10 Jun 2021
Tim McGrath

Special Counsel Tim McGrath outlines the new process for director resignations, which ASIC has introduced since 18 February 2021, in line with the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth).
Anti-Money Laundering and Counter-Terrorism Financing – What do you need to know? - 2 Mar 2021
Rebecca Hegarty, Ana-Maria Cindric

In our latest article, Principal Lawyer Rebecca Hegarty and Associate Ana-Maria Cindric outline what you need to know about Anti-Money Laundering and Counter-Terrorism financing.
NSW first to legislate national defamation law reforms - 23 Sep 2020
Melissa McGrath

NSW Parliament is the first jurisdiction in Australia to legislate the Model Defamation Amendment Provisions 2020. In this article, Principal Lawyer Melissa McGrath explains what the defamation law reforms hope to achieve and the key implications for business owners.
Tracking Company Directors for Life – the introduction of Director Identification Numbers - 20 Jul 2020
Rebecca Hegarty

In this article Principal Lawyer Rebecca Hegarty explains the Director Identification Number regime which will be implemented in the first half of 2021.
Be Informed: 10 terms a franchisee should look for in their franchise agreement - 10 Mar 2020
Catherine Sedgley

When purchasing a franchise, franchisees should take the time to read through the franchise agreement and the franchisor’s disclosure document. In this article, Senior Associate Catherine Sedgley outlines the 10 terms a franchisee should look for in their franchise agreement.
A Plain English Guide for Directors on Insolvency and Safe Harbour - 26 Sep 2019

Allowing a company to trade while insolvent could have serious ramifications for individual directors. If a director is found to have knowingly allowed a company to trade while in financial difficulty, he/she could be held personally liable for the debts incurred to liquidators or creditors - and could even be found guilty of criminal action.
CBD-Style Legal Services Now on the Doorstep for Campbelltown-Macarthur Residents - 23 Jul 2019
Warrick McLean

Residents and businesses within the Campbelltown-Macarthur region now have access to a wider range of commercial and personal legal services, expertise and support following Coleman Greig Lawyers' opening of offices in the centrally-located Oran Park Podium.
Plain English Guide to The Responsibilities of a Director - 1 Jul 2015

Being appointed as a Director of a company is very important. Not only does it increase your personal day-to-day responsibilities, it also increases the responsibility and accountability you have to the company and its shareholders.

Director's Responsibilities - Useful Links

Director's Responsibilities - Recent Experience