Given the increasing heat being placed on directors and business owners, it’s important for you to understand the legal requirements and put in place compliance systems so that employees are being paid their legal wages and entitlements.
There are over 700 laws that can impose personal liability on directors. While it is common for companies to provide directors with an ‘indemnity’ or ‘insurance cover’ for these liabilities, there are limitations and restrictions on how far this indemnity and cover can extend.
When we hear the word ‘company’, we all think we know what the person is talking about. We deal with companies every day. Most of us work for a company, and we certainly buy things from them. But companies are actually a strange thing. Let’s start with a bit of a history lesson.
Most people think the directors of their company are appointed by a majority of shareholders. But often this is not the case. Discover the full picture.
Who wants to be a director? Not an easy question to answer these days, with over 700 laws that can make you personally liable for various actions (or inactions) of your company. This article provides some handy safeguards to consider before you agree to become a director.
Have you thought about what would happen to your company if you became incapacitated, or worse, if you died? Who would pay the bills, and enforce the company’s rights?