Who are the directors and officers of a company limited by guarantee?
The Corporations Act 2001 (Cth) defines an ‘officer’ of a company limited by guarantee as: • a director or secretary of the corporation; • a person who makes or helps to make decisions that affect the whole or a substantial part of the organisation or who may significantly affect the company’s financial standing; • any receiver, administrator, liquidator, or trustee of the company. In general, a ‘director’ is defined to mean anyone: • appointed as a director or an alternate director; or • not validly appointed as a director but acting in that position anyway or with whose wishes or instruction the directors are accustomed to act. Your company may use different names for its directors. These may include a managing director, alternate director, nominee director, executive and non-executive director, and many others. No matter what name is used, all directors and officers of a company must comply with certain legal duties, which are explained further below.
