I’m the last director of a company, can I resign?

Hannah Murray

Hannah Murray

Companies must always have at least one director. This means if you are the last remaining director on ASIC’s records, you will not be able to resign and any attempt to do so will be rejected. There is only one circumstance in which the last director of a company may resign, and that is when the company is being wound up.

Prior to 2021, last remaining company directors were able to use ASIC Form 370 or 484 to resign (leaving the company with no directors). However, in February 2021, the Corporations Act 2001 (Cth) was amended to include minimum director requirements.

If you are looking to appoint a new director to take over your role, ensure they meet ASIC’s requirements by reading our recent article.

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