Three questions that should be put to the board at the AGM and...

Three questions that should be put to the board at the AGM and have answer to the satisfaction of all business owners (Shareholders).......

Have directors acted in Good faith? – This duty requires a director to act in
good faith in the best interests of the company and for
a proper purpose (s 181), including to avoid conflicts of
interest, and to reveal and manage conflicts if they arise.
This is a duty of fidelity and trust, known as a ‘fiduciary
duty’ imposed by common law and a duty required in the
Corporations Act 2001.

Have they properly used position? – This duty requires
directors to not improperly use their position to gain
an advantage for themselves or someone else, or to the
detriment to the company (s 182).

Have they acted with Care and diligence? – This duty requires a director to act
with the degree of care and diligence that a reasonable
person might be expected to show in the role (s 180).