• Can I be a director in the future if I’ve been part of an insolvency?

    It is possible for you to be a director in the future if you’ve been part of an insolvency, because directors who are caught up in insolvencies are not automatically banned.

    ASIC may impose a ban of up to five years on directors if the following two conditions are met:

    • The director was an officer of at least two companies that entered liquidation
    • Those two liquidations occurred within a seven-year period

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