From www.accountantsdaily.com.au: A recent court decision highlights the importance of obtaining written consent from directors prior to their appointment, as mandated by section 201D of the Corporations Act.

In the case of One Tree Agriculture Pty Ltd v Lye, the court ruled that a failure to meet this requirement led to significant legal repercussions for the parties involved, including potential loss of the family home.

The case serves as a cautionary tale for advisers and company registrars about the risks associated with neglecting clear legislative processes.