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HCTV Blair Pleash Shadow Directors Part Two
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If acting as an Advisor to a company in an informal turnaround an Advisor should follow these steps to ensure they are not treated as Shadow Director.
1. Obtain a written Letter of Engagement outlining the role
2. Ensure an Advisor is recorded as an Observer in Minutes
3. Do not have online access or be a signatory on accounts
4. Ensure a range of options are provided to the Board
Given the current economic challenges we are facing in respect to #COVID-19 crisis, it is important that #company offices and their #Advisors be conscious of the respective duties and responsibilities.
1. Obtain a written Letter of Engagement outlining the role
2. Ensure an Advisor is recorded as an Observer in Minutes
3. Do not have online access or be a signatory on accounts
4. Ensure a range of options are provided to the Board
Given the current economic challenges we are facing in respect to #COVID-19 crisis, it is important that #company offices and their #Advisors be conscious of the respective duties and responsibilities.