Cost orders : a new wave of liability for the company secretary?

Abstract

A recent decision of the Federal Court has held the company secretary liable for the company's costs of bringing an application for an extension of time under s 1322(4)(d) of the CorporadotJS Act 2001 (Cth).l The decision highlights the need for the company secretary to stay well-abreast of the technical requirements of the Corporations Act, particularly when performing duties delegated by the board. The Federal Court's ruling also raises some interesting questions in relation to the scope of coverage under directors' and officers' insurance.

Yes

2003

C1