The duties and liabilities of persons below board level

Byrne, Mark (2006) The duties and liabilities of persons below board level. Canberra Law Review, 9 (Spe (2). pp. 45-64. ISSN 1320-6702

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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.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: All attempts to contact publisher were returned. Publisher = University of Canberra.
Depositing User: Mr Mark Byrne
Faculty / Department / School: Historic - Faculty of Business - Department of Law
Date Deposited: 11 Oct 2007 01:13
Last Modified: 02 Jul 2013 22:46
Uncontrolled Keywords: Corporations Act 2001; duties; liabilities
Fields of Research (FOR2008): 18 Law and Legal Studies > 1801 Law > 180109 Corporations and Associations Law
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150312 Organisational Planning and Management
Socio-Economic Objective (SEO2008): E Expanding Knowledge > 97 Expanding Knowledge > 970118 Expanding Knowledge in Law and Legal Studies
URI: http://eprints.usq.edu.au/id/eprint/2722

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