Insights

Boardroom Brief: Week commencing 15 February 2021

Date published 15 February 2021
Read time TBC
This is a service specifically targeted at the needs of busy non-executive directors. We aim to give you a “heads up” on the things that matter for NEDs in the week ahead - all in two minutes or less. In this Edition, we consider key learnings from the ASIC Commissioner’s article on managing climate risk, new anti-phoenixing restrictions on removing the last remaining director of a company and the NSW Supreme Court’s clarification of the director’s duty of good faith.

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This is a service specifically targeted at the needs of busy non-executive directors. We aim to give you a “heads up” on the things that matter for NEDs in the week ahead - all in two minutes or less. In this Edition, we consider key learnings from the ASIC Commissioner’s article on managing climate risk, new anti-phoenixing restrictions on removing the last remaining director of a company and the NSW Supreme Court’s clarification of the director’s duty of good faith.

GOVERNANCE & REGULATION

ASIC Commissioner emphasises importance of managing climate risk. article

LEGAL

Anti-phoenixing restrictions on removing last recorded director take effect on 18 February 2021.

Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020

NSW Supreme Court clarifies interpretation of good faith obligations for directors under section 181. In the matter of IW4U Pty Ltd (in liq) [2021] NSWSC 40

OVER THE HORIZON

Reminder to submit first modern slavery statements.

Modern Slavery Act 2018 (Cth)

Global market bounce-back after GameStop frenzy.

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