Directors must give information to company
– section 205F of the Corporations Act 2001
This offence means that a director of a company has to give the certain information that is relevant for compliance.
- A Director failed to disclose information about a potential conflict of interest
- A Director failed to disclose information about a potential personal interest
- You did not fail to disclose any relevant information
- The information was not relevant for the company’s compliance
Questions that are asked in cases like this:
- What kind of information must be disclosed to the company?
Maximum penalty and court that deals with this chargeThis sort of charge is normally heard in the Magistrate’s Court.
What can you be sentenced to for this charge?You are likely to receive a fine if found guilty for this offence. However, every offence turns on its particular circumstances.
What is the legal definition of Directors Must Give Information to Company?A director of a company must give the company any information that is relevant for compliance. The company must give the information to each of the other directors of the company within 7 days of receiving it.
“Did you fail to disclose the relevant information?”