Liability limited by a scheme approved under Professional Standards Legislation                                                                                                                            © 2018 by Bruce Mulvaney & Co

Bruce Mulvaney & Co​

 

Tel: (03) 9896 9000

Fax: (03) 9896 9001

Email Bruce Mulvaney

Level 4, 858 Glenferrie Rd,

Hawthorn, Vic, 3122

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March 1, 2016

 

The Corporations Act prohibits companies indemnifying their Directors. Or does it?

 

Company directors generally will be aware that sections 199A and 199B of the Corporations Act 2001 (the Act) prohibit companies from indemnifying directors for penalties imposed upon them for breaches of the Act, and for breaches of other legislation, where penalties may be imposed. There are, however, still good reasons why directors (and other officers), should negotiate appropriate...

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