Question: 'Directors have equal powers and responsibilities whether they are formally or informally appointed by the Board of companies.' Explain this statement in the context of

'Directors have equal powers and responsibilities whether they are formally or informally appointed by the Board of companies.' Explain this statement in the context of the definition of directors under Australia's Corporations Act, 2001. What is the significance of recognising de-facto directors for liabilities under Corporations Act, 2001?

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