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Content Type:
Director Q and A
31 Jan 2013
Directors are known by a variety of names but they all have the same duties and responsibilities regardless of their title. In this Q&A we run through the roles of several types of directors including alternate director, chairman, de facto director, executive director, independent director, lead...
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Content Type:
Director Q and A
31 Jan 2013
Under the provisions of the Corporations Act 2001 there are requirements on who can be a director. This Q&A explains who can be a director, how many directors are needed and situations when directors can be disqualified or removed.
What are the Basic Requirements?
Section 201B of the Cor...
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Content Type:
Director Q and A
31 Jan 2013
Joining any board is an important step regardless of the type of organisation or your level of experience. Yet many directors take this step without sufficient reflection on the possible risks in terms of personal financial liability and reputational damage, and without sufficient investigation of t...
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Content Type:
Director Q and A
31 Jan 2013
A non-executive director is a one who is not employed by the organisation in an executive capacity. All directors, whether executive or non-executive, must comply with basic legal requirements under the Corporations Act 2001. This Q&A describes the role of the non executive director and how they...
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Content Type:
Director Q and A
31 Jan 2013
Most corporate governance codes focus their attention on listed companies. However the basic precepts of good governance are fundamental to all organisations – having a board charter, well defined roles and responsibilities for board members, appropriate financial knowledge, accountability and trans...
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Content Type:
Director Q and A
31 Jan 2013
Advisory boards provide non-binding strategic advice to organisations. Unlike statutory boards required by the Corporations Act 2001, they are informal in nature and therefore have greater flexibility in how they are set up and managed. This Q&A describes the role of advisory boards, when a comp...
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Content Type:
Director Q and A
31 Jan 2013
This outlines how many directors companies should have
The company's constitution governs the number of directors and may provide for a variation of that number.
Is There a Prescribed Maximum Number of Directors?
There is no prescribed maximum number of directors. The ASX CGC Corporate ...
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Content Type:
Director Q and A
31 Jan 2013
Directors can resign or be removed from office for various reasons. This Q&A describes the legal issues and required process for the removal, resignation or disqualification of company directors in public and proprietary companies. It also covers casual vacancies and special considerations for e...
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Content Type:
Director Q and A
31 Jan 2013
A board needs to have a broad mix of skills and experience to be effective. The key goal in selecting directors is to build a mix that can work as a well-rounded team in fulfilling its duties and responsibilities. A formal and transparent procedure for the selection, appointment and re-appointment o...
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Content Type:
Director Q and A
31 Jan 2013
The board is responsible for ensuring that it has represented on it the skills, knowledge and experience needed to effectively steer the company forward. Directors will be appointed to the board because their specific skills, knowledge and experience will fill particular gaps on the board. It is imp...
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Content Type:
Director Q and A
31 Jan 2013
For the aspiring director, finding a directorship involves creating opportunities. Most directors will start small, usually in the not-for-profit sector. As they gain boardroom experience and build networks, other opportunities will arise. This Q&A outlines some potential opportunities including...
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Content Type:
Director Q and A
31 Jan 2013
Succession planning enables an organisation to refresh its leaders in order to continue meeting the challenges of a constantly changing business environment. The aim is to have the right person able to fill the vacancy at the right time so that the board has the opportunity to manage its future need...