CP 124 Directors duty to prevent insolvent trading: Guide for directors
Released 24 November 2009. Comment closed 22 January 2010.
This consultation paper seeks feedback from directors, professional advisors and other interested parties on our proposed guidance to help directors understand and comply with their duty to prevent insolvent trading.
It includes a draft regulatory guide that:
- sets out the key principles that we consider directors need to take into account in order to comply with their duty to prevent insolvent trading; and
- provides guidance on how we will assess whether a director has breached their duty.
|Mr Jeffrey Fitzpatrick, Dr Vivienne Brand and Dr Christopher Symes|
|Australian Institute of Company Directors|
|Chartered Secretaries Australia|
|The Institute of Chartered Accountants in Australia|
|Australasian Compliance Institute|
|Housing Industry Association Ltd|
|Australian Bankers' Association|
|Insolvency Practitioners Association of Australia|
|The Westpac Group|
|Law Council of Australia|
|National Institute of Accountants|
|Group of 100 Inc|
|Australian Institute of Credit Management|