How to appoint a successor director to a company

Overview 

This article explains how to appoint a successor director in CAS 360 and outlines the documents that will be generated.

CAS 360 does not currently support creating a successor director. As a workaround, you can appoint the successor director using the process outlined below.

What is a Successor Director? 

A successor director is a person who is nominated to automatically take over management of a company if the current director dies or becomes incapacitated (known as a trigger event).

The appointment date of the successor director is the date the trigger event occurs. Once appointed, ASIC must be notified within 28 days.

Navigation 

From the Main Toolbar, go to Company.
Select the Company from the list.
Select Officers

Instructions

1. Select Add Officer + 

2. Add the Successor Director using the table below as a guide.  

   Field	Explanation
   Officer Name	Begin typing the new Officer's name. CAS 360 will begin searching the Global Contact screen for the person. If the Contact has not been previously added to the Global Contact screen, will display. Click to add a new contact. Users will be prompted to enter the Director ID for directors, if it was previously not entered for the contact.
   Position	Select the Officer's position as Director
   Position Status	Select the Status as Appointed
   Meeting Status	Attendee This person will be shown as present or as in attendance (if the person is not a director) at meetings. If the person is a director or alternate, the person will be listed on resolutions. Signatory This person will be shown as present or as in attendance (if the person is not a director) at meetings. The person will be shown as chairperson at meetings and signatory on company forms and other documents. If the person is a director or alternate, the person will be listed on resolutions. Form Signatory This person will be shown as present or an in attendance (if the person is not a director) at meetings. The person will be shown as signatory on company forms and other documents. If the person is a director or alternate, the person will be listed on resolutions. Chairperson This person will be shown as present or an in attendance (if the person is not a director) at meetings. The person will be shown as chairperson at meetings. If the person is a director or alternate, the person will be listed on resolutions. Apology This person will be listed under the Apology paragraph in the Meeting Minutes. They will not be listed on Resolutions, as the person did not attend the meeting when decision was made.  Non Attendee This person will not be shown on meeting minutes or resolutions.
   Appointed	Enter the Appointed date as the date the Officer is appointed
   Notes	Click to add extra notes to appear on the Register of Officers

3. After entering the Successor Directors' information, select Save
4. Once all necessary changes have been selected for the company, select Prepare Forms

Forms Prepared

CAS 360 will display the Document Production screen and automatically select the documents required:

• Cover Letter (optional) 
• Register of Officers 
• Directors Meeting Minute or Resolution
• Change to Company Details Form 484B (signed and electronic)
• Notifications of change to directors of a registered body Form 490 (For Companies with the Company Type of Foreign or Registrable Body set in the General Details screen)
• Consent to Act letter
• Members Meeting Minute or Resolution (optional) 
• ABRS Director ID Letter (For directors and alternate directors) 

CAS 360 allows you to prepare documents and then notify ASIC through electronic lodgement via the Documents Screen. For more information on how to do so, click here.