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Responsibilities Imposed on Directors

There are numerous and important legal responsibilities imposed on directors under the Corporations Act 2001 and other laws, including the general law. Of these duties, some of the most significant are: to act in…

Family Trust Vs Unit Trust

Family or Discretionary Trust A trust is basically a legal structure whereby a person or company (the trustee) holds assets on trust for the benefit of a group of beneficiaries.…

What is a Beneficiary?

A beneficiary is a person for whom a trust is created & who receives the benefit of that trust. With regard to most discretionary trust deeds “specified beneficiaries” are listed…

What is a Settlor?

A person who makes a gift (AKA “settlement”) of money under a Deed is the usual way to establish a discretionary trust.  The gifter of the money (“settlement”) is called…

When do I need a Company Secretary?

When do I need a Company Secretary? When you register a proprietary company in Australia, it is mandatory to have at least one director residing in Australia. Australian Securities and…

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