A new section 588GAAA has been inserted into the Corporations Act 2001 to provide temporary relief for directors concerning their personal liability for insolvent trading. The temporary relief does not apply to a director’s other common law and statutory duties.
As most workers who are able to have now settled into working from home arrangements, one of the most significant challenges facing organisations at present is Business Continuity Management (BCM). Our recent article discusses Business Continuity Management and some of the issues that should be addressed in any organisation’s BCM plan. This article seeks to discuss the risks to business continuity posed by COVID-19.