A company may send to a proposed new director the Consent to Act as a Director form together with an Offer of Appointment letter. Alternatively, the Consent to Act as a Director form can be sent first and the Letter of Appointment sent after the signed consent form is received. Under either option it is essential that the signed Offer/Letter of Appointment and the Consent to Act as a Director form be received by the company.
For listed entities, the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations2 (ASX Principles) Recommendation 1.3 states: “A listed entity should have a written agreement with each director and senior executive setting out the terms of their appointment”.
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