The matter has been listed for a directions hearing in the Supreme Court later this month, and Sayers will resume all duties as MD of the company, effective immediately.

Sayers faced charges relating to conspiracy to defraud the commonwealth in relation to income tax arising out of events that occurred almost 10 years ago.

The charges related to tax matters arising from arrangements put in place by professional advisers engaged by Sayers and a business associate at that time.

They were not connected with Ausdrill.