Released 24 November 2009. Comment closed 22 January 2010.

This consultation paper seeks feedback from directors, professional advisors and other interested parties on our proposed guidance to help directors understand and comply with their duty to prevent insolvent trading.

It includes a draft regulatory guide that:

• sets out the key principles that we consider directors need to take into account in order to comply with their duty to prevent insolvent trading; and
• provides guidance on how we will assess whether a director has breached their duty.

Download CP 124 (PDF 222 KB) | Read the media release

Submissions
Stephen Maitland
Mr Jeffrey Fitzpatrick, Dr Vivienne Brand and Dr Christopher Symes
Australian Institute of Company Directors
Chartered Secretaries Australia
The Institute of Chartered Accountants in Australia
Australasian Compliance Institute
Housing Industry Association Ltd
Australian Bankers' Association
Insolvency Practitioners Association of Australia
PricewaterhouseCoopers
Alicia Hill
The Westpac Group
Shine Wong
Law Council of Australia
National Institute of Accountants
Group of 100 Inc
Australian Institute of Credit Management
Peter Keenan