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Directors
The directors are the persons who will be responsible for managing the business
and affairs of the company and for ensuring, along with the company secretary(s)
in some cases, that the company complies with the Corporations Act 2001.
Subject to being removed by the members/shareholders, the directors will
control the company.
A director may also be one of the company's members/shareholders, and may
even be the company's sole member/shareholder.
At least one director of the company must ordinarily reside in Australia
- i.e. be an Australian resident - section 201A(1)
of the Corporations Act 2001.
A director must:
- be a natural person; he/she cannot, for example, be a company, a trust, a partnership, or a club - sections
201B(1)
and 117(2)(d)
of the Corporations Act 2001;
- be at least 18 years old - section 201B(1) of the Corporations
Act 2001.
A director
may not:
- be an undischarged bankrupt, nor may be subject to a deed of arrangement
or a composition with creditors - sections 201B(2)
, 206B(3)
and 206B(4)
of the Corporations Act 2001;
- have been convicted of any of certain types of offences - see
sections 201B(2)
and 206B(1)
of the Corporations Act 2001.
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