Starting a Business
10. The Role of a Director
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 07 Jul 2015
- There must be at least one director in a company.
- A director must be over 18 years of age and reside in Australia.
- A person may not manage a company if they:
- are an undischarged bankrupt;
- have been convicted of dishonesty offences such as fraud or theft; or
- have been disqualified by ASIC from managing a company.
- A single director arrangement is usually used in a family business situation.
- A number of other family members may be employees or shareholders of the company.
- Having only one director has the advantage that only one family member is subject to the obligations imposed on directors by the Corporations Act 2001 (Cth).
- Usually this person will be the family member who is directly engaged in the day-to-day operations of the business.
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