![The importance of maintaining corporate records with ASIC: Energy Resources of Australia Limited [2022] FCA 176](/upload/holman-webb-lawyers/shutterstock1278837040-company-director-asic-resignation.jpg)
The Federal Court of Australia’s recent judgment in the matter of Energy Resources of Australia Limited [2022] FCA 176 demonstrates the risks to resigning company directors when they, or the company, fail to notify ASIC of their resignation in a timely manner – as well as the consequent time, effort and costs needed to rectify these failures.
The decision is also a reminder that retiring directors wishing to avoid personal responsibility for a company’s conduct need to notify ASIC promptly and effectively.