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Executor of Will - Can Friend Become Director of the Company?

Discussion in 'Wills and Estate Planning Law Forum' started by Joybelle48, 18 May 2016.

  1. Joybelle48

    Joybelle48 Active Member

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    My friend's dad was Director of a PTY Ltd company only shareholder. She is the only executor of will. Can she become director of the company?
     
  2. Sophea

    Sophea Well-Known Member

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    Hi Joybelle48,

    s201F of the Corporations Act 2001 provides that, in the event of the death of a single member/director of a proprietary company, the executor appointed to administer the deceased’s estate may appoint a new director to the company. The director has all the powers, rights and duties of the deceased director and can keep the company running until shares are transferred to beneficiaries who may then appoint new directors if they wish. As far as I know she could appoint herself as director of this company.
     
  3. Tim W

    Tim W Lawyer

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    I agree with @Sophea.
    The executor can appoint themselves as a replacement director.

    We have discussed this question several times in recent weeks,
    so I suggest a search of the archives.



    (Thinking about how many times we have discussed this question of late,
    I am now wondering at which Law School this question is "the assignment"...?)
     
    ClareB likes this.

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