Your decisions as a company director matter

When you make a business decision as a company director, you must, amongst other things, ensure that you:

  • make the decision in good faith and for a proper purpose.

  • do not have a material personal interest in the decision and make it in the best interests of the company.

  • find out and assess how any decision will affect your company’s business performance, especially if it involves a lot of the company’s money or could have a material impact on the company's reputation.

  • keep informed about your company’s financial position and performance, ensuring your company can pay its debts on time.

  • get trusted professional advice when you need assistance to make an informed decision.

  • make full and frank disclosure about any material personal interests you do have.

There are penalties and consequences – including civil penalties, compensation proceedings and criminal charges – if you, as a company director, fail to comply with your obligations under law.

Source: https://asic.gov.au/for-business/small-business/starting-a-company/small-business-company-directors/

What we'll do together with you:

Your value is the sum of the decisions you make and the actions you take