Corporate governance is the regulatory framework of duties imposed on Australian directors, internal company processes and policies, board and committee composition, audit processes, and shareholder rights and entitlements.
Our team of corporate lawyers provide expert advice to ensure compliance with the Corporations Act and good corporate governance practices. We have advised company directors (public and private) of director duties and personal liability on directors and assisted boards and senior management on the full spectrum of issues impacting their decision making, roles and responsibilities.
- Under the current corporate governance framework in Australia, there are a number of circumstances where directors are made to be personally liable, such as:
- if the company fails to comply with any of its tax reporting requirements;
- Criminal conduct of the company
- if the company breaches trade practices laws
- if the company breaches certain environmental laws
- if the company breaches occupational, health and safety laws
- where the company engages in conduct which could be
- infringing existing intellectual property rights which already subsist
Directors are also exposed to a number of potential threats and proceedings being brought against them for breaches of their duties under the Corporations Act by a multitude of different parties, such as:
- the company
- Shareholders
- Creditors
- Insolvency administrators and trustees in bankruptcy
- ASIC and other regulatory authorities
Our team of expert corporate lawyers work closely with company directors and shareholders to assist them to understand their duties and obligations, but also their rights and entitlements under the legislative framework affecting Australian companies.