Article by: Michelle Wibisono, Senior Legal Writer, LexisNexis® Practical Guidance – Corporations
Directors are responsible for the general oversight of the company. There are different types of directors, including de facto and shadow directors, nominee directors, independent directors, and non-executive directors.
The law concerning the holding of office for directors is primarily contained in the Corporations Act 2001 (Cth) (Corporations Act), which also outlines specific eligibility requirements for a person to become a director. The Corporations Act also outlines the processes that need to be followed and notifications that need to be made when appointing a director.