The duties and liabilities of persons below board level

Article


Byrne, Mark. 2006. "The duties and liabilities of persons below board level." Canberra Law Review. 9 (Special edition), pp. 45-64.
Article Title

The duties and liabilities of persons below board level

ERA Journal ID33167
Article CategoryArticle
Authors
AuthorByrne, Mark
Journal TitleCanberra Law Review
Journal Citation9 (Special edition), pp. 45-64
Number of Pages20
Year2006
Place of PublicationCanberra, Australia
ISSN1320-6702
Web Address (URL)http://www.canberra.edu.au/centres/ncclpr/research-publications/clr
Abstract

Under recent recommended changes to the Corporations Act 2001 (Cth), managers, consultants and advisers who ‘take part in the management of a company’ will face a new risk of liability under key statutory duties even though they may not act in any position as a director. The proposals are claimed, in part, to simply correct an oversight in amendments to definitions in the legislation which took effect in 2000. However, this article suggests the implications are much more significant. The class of persons who may be caught under the proposed amendments are very broad and the risk of liability to those persons, because of other ongoing legal developments affecting corporate governance, are much greater than may first appear. Corporate managers, consultants and advisers, even in one-off relationships with corporations, need to be very careful about how their roles may be classified. Particular risks will exist where their work and advice relates to the provision of information and decision making affecting the solvency of the company.

KeywordsCorporations Act 2001; duties; liabilities
ANZSRC Field of Research 2020480103. Corporations and associations law
350711. Organisational planning and management
Public Notes

All attempts to contact publisher were returned. Publisher = University of Canberra.

Byline AffiliationsSchool of Law
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https://research.usq.edu.au/item/9y3y8/the-duties-and-liabilities-of-persons-below-board-level

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