Legal Duties and Liabilities of Directors of Commonwealth Authorities and Companies

Updated January 2013

 

Minter Ellison has prepared this Guide for persons serving on, or considering serving on, the boards of Commonwealth companies or authorities. It covers their legal duties and obligations, focusing in particular on the Corporations Act 2001 (Cth) and the Commonwealth Authorities and Companies Act 1997 (Cth).  A new edition of our Guide for those serving or considering serving on boards of Commonwealth authorities and companies is now available.

The Guide covers legal duties and obligations of directors, focusing on the Corporations Act 2001 (Cth) and the Commonwealth Authorities and Companies Act 1997 (Cth), and is in three parts:

  • Part 1 outlines the key statutory duties of directors, the sources of those duties and the possible liabilities for breach.
  • Part 2 looks at key measures for directors to manage their potential exposure to personal liability.
  • Part 3 includes checklists focusing on issues that commonly arise, relevant in particular to directors of Commonwealth companies.