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Expert advice and guidance supporting for a board of directors



 


Navigate complex legal and regulatory issues, as well as provide practical solutions to operational and strategic challenges.  

Corporation, Commercial
Merger & Acquisition

Wentworth corporate​ advisory 
for 
doing business in Australia 

Bright Conference Room

Director's duties
under the Corporations Act 2001 (Cth) 

 

Corporate governance

                       Avoid conflict of interest 

Directors in Australia have a range of legal duties and obligations that they must fulfill. These include acting in good faith, exercising due care and diligence, avoiding conflicts of interest, and preventing insolvent trading. Failure to comply with these duties can result in serious consequences, including legal action and personal liability. Directors need to understand their responsibilities and seek professional advice if necessary.

 

  1. Care and diligence – Require a director to act with a reasonable degree of care and diligence expected in that role (s 180).
     

  2. Good faith – Require a director to act in good faith and in the best interests of the company (s 181).
     

  3. Not to improperly use information – Prohibits a director from improperly using information gained in the course of their director’s duties, to benefit themselves or someone else, to the detriment of the company (s 182).
     

  4. Not to improperly use position – Prohibits a director from improperly using their position, to benefit themselves or someone else, to the detriment of the company (s 183).
     

  5. Not to engage in insolvent trading – Require a director to ensure that the company is solvent while trading and can pay it’s debts when due and payable(s 588G)

Consequences of breaching Director's Duties

  • Criminal sanctions (s 184)

  • Civil sanctions

  • Disqualification (Part 2.6D)

  • Commercial consequences

  • Personal liability


General corporate advisory services for companies

  1. Company formation and governance

  2. regulatory compliance 

  3. Commercial contracts and agreements

  4. Intellectual property and technology

  5. Employment and labour

  6. corporate migration (subclass 429 and 186) 

  7. Data, Cybersecurity and E-commerce

  8. franchising 

  9. Taxation and compliance

  10. Mergers & Acquisitions

  11. Restructuring and turnaround management

  12. insolvency, administration, and winding up a company

  13. Contract interpretations for damages 

  14. Competition & consumer protection 

  15. Dispute resolution and litigation

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