Officeholder Resignation Letter
An Officeholder Resignation Letter can be used by an officeholder to notify the company that they are resigning from their position of employment.
4.8 (20 reviews)
Under 5 minutes
Suitable for Australia
Document Overview
One of your obligations as an officeholder of a company (director or secretary) is to provide adequate notice if you resign your position. Under section 203A of the Corporations Act 2001 (Cth), a person can resign as director of a company by giving written notice to the company at the company’s registered address. However, as this is a replaceable rule, the company constitution may contain different provisions for director resignation, which you will be bound by as a director. It is important that you are aware of your obligations. It is also important that you decide on the manner in which you wish to leave the company, and tailor the tone and content of this letter accordingly.
The director can notify ASIC of their resignation. This notice must be accompanied by the notice of resignation (ie this Resignation Letter) in order to be effective. Where they do not do this, the company from which an officeholder resigns needs to provide details of the resignation to ASIC. This needs to be done within 28 days of the resignation to avoid incurring any late fees. Notification can be by providing the text of the resignation letter submitted by the officeholder and lodging the relevant form.
You should note that, if you are an executive director, which is to say a director who is employed by the company to perform another role, you should carefully follow the notice and resignation agreements contained in your employment agreement.
The last director of a company may not resign as a director unless a new director is appointed at the same time.
Do liabilities of officeholders still apply even after resignation?
Yes, you may still be liable even after you’ve resigned as a director. This is because your fiduciary duties and duty of care as a director still survive even after you resign.
As such, it’s a positive idea to be proactive and act in your company’s best interest of the company even after you leave.
What does the Officeholder Resignation Letter cover?
Intention of resignation as Officeholder; and
Contact details.
Other names for Officeholder Resignation Letter include:
Resignation Letter; and
Notice of Resignation.
Further information:
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