Many of us are directors of the private companies we operate. It is often a necessity of being in business. But do you realise being a director comes with serious responsibilities? For most of us, our businesses run day to day without a hitch. We pay our bills when they fall due and otherwise act within the constraints of the law.
However, sometimes things can go wrong so it’s important to make sure you understand the risk, and do everything you can to mitigate your liability.
ASIC has some very good information on their website we recommend all company directors regularly review.
If you have questions about your responsibility your lawyer is the best person to speak to. But please don’t hesitate to call us if you have any questions and we can point you in the right direction.