Discharge of directors' duties — practical evidence
Directors must contemporaneously document discharge of duties for defence in s 180-183 cases.
Who must comply
All company directors + officers.
What triggers it
Continuous discharge of directors' duties.
When due
Continuous.
Evidence required
Board minutes; papers; risk + audit committee attendance; training; advice records.
Max penalty
Civil penalties + criminal exposure for serious breaches
Summary
Discharge of statutory duties (ss 180-183 Corporations Act) requires contemporaneous evidence. Board minutes + papers, attendance at risk + audit committees, due-diligence files, training + advice records all support the business judgment rule (s 180(2)) defence.
Enforced by
Source legislation
Entity types
Topics
Source: https://asic.gov.au/for-business/running-a-company/company-officeholder-duties/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.