Regulatory Alerts2024-12-05 | RG-217RG 217 Duty to prevent insolvent trading: Guide for directors
The Australian Securities and Investments Commission issued this guide to assist directors and their professional advisers in understanding and complying with the duty under section 588G of the Corporations Act to prevent insolvent trading. It outlines key principles for identifying insolvency risks and provides specific guidance on utilizing the safe harbour protection from liability. The document also serves as a reference for registered liquidators and creditors regarding these statutory obligations.
Share