Company Registration

No they can’t. Per ASIC’s special purpose eligibility requirements, directors cannot be paid fees or remuneration for their services as directors. There is an additional requirement that any expenses incurred in relation to their duties as directors must be approved before any payment is made back to them. The Patricia Holdings constitution has been drafted in a way that satisfies ASIC’s requirements and allows the not-for-profit company to take advantage of the reduced annual review fees each year.