WA Am I Still One of the Company Directors?

[Karen mcguane]

Am I still legally one of the company directors and shareholders if I haven't signed off on an ASIC form 484? Can anyone tell me please?

Also if I took a loan out for a company that was in our personal names and without my knowledge, the other two company directors changed everything into the company name, is it legal without my consent?

I had no knowledge how they changed the loan to read the company. I took out the loan, not us personally, because we have all signed the loan, typed out in true format next to our names.

I think my husband told me I was out of the company as director and shareholder and my name has been taken off everything although I'm getting divorced now after 34 years of marriage because I know I've been taken for a fool for 34 years living on $100 per week he would give me.

If you can shed some light on these two matters, it will be great thanks.

 

[Rob Legat - SBPL]

1. Any director of a company can sign off on a Form 484 to remove another director. Anyone with the corporate key can lodge the document, and if it appears correct ASIC won't ask any further questions.

2. It's unusual, but possible. You can't be added into a loan without your knowledge, but it is possible to take you out of a loan without your knowledge/consent. This is on the basis that your liability is not being increased (because if you're not a borrower, guarantor or security provider - then you're not directly liable to repay it).

In additional consideration:

- Just because a Form 484 has been lodged, doesn't mean it's a 'done deal'. The company records must reflect what has happened, and if they are incorrect action can be taken to rectify them. That can get messy and complicated - meaning lengthy and expensive, especially when it comes to directorship because the directors are only there at the behest of the shareholders.

- If you've been removed as a shareholder, that's a different prospect. There are way to compulsorily acquire someone's shares, but there are definite steps that must be followed. Outside these, your shares can't be sold to someone else without your agreement.

 

[Karen mcguane]

Thanks Rob