2018-09-12
Added · Updated
A fine can be imposed on a de facto director even if the offending legal entity has entered liquidation. The liquidation of the entity does not prevent regulatory action against the individual director. Additionally, the authority retains the option to impose a fine on the liquidated legal entity itself.
Q&A
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Question:
Can a fine be imposed on a de facto director if the offending legal entity has since gone into liquidation?
Published: 12 September 2018
Answer:
Yes, it can. The legal entity's liquidation does not affect the option of taking action against its de facto director. The imposition of a fine on the liquidated legal entity also remains an option.
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