Case Study of Corporation Act

Added on - 21 Jul 2020

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Register a Proprietary Company & Draft(create) a Notice of Meeting and Proxy form
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3PART 1............................................................................................................................................3Stating the registration aspect of company as per section 117, 134, 135 and 169 in Australia...3PART 2............................................................................................................................................4Drafting a notice of meeting and proxy form..............................................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONAustralian Securities and Investment Commission have introduced rules or steps that canbe followed by proprietor for registering a company. Further, Corporation Act (2001) ofAustralia contains rule regarding the amendment of share class, notice of meeting etc. Thepresent report will shed light on the manner in which proprietary company can register itself inAustralia. Besides this, it will also provide deeper insight about the aspects of notice of meetingand proxy forms.PART 1Stating the registration aspect of company as per section 117, 134, 135 and 169 in AustraliaConsidering the case situation, Wesfarmers Ltd intends to create a constitution regardingnon-voting shares. According to Corporations Act (2001), constitution implies for the contractwhich takes place between company and its member, each director as well as CS. CompaniesAct introduced by Australian authorities clearly shows that business unit can undertakeconstitution in both the situations before or after registration (Proprietary company registration,2017). Hence, when constitution is done before registration then consent of each member mustbe in writing. On the other side, there is need to pass special resolution for the adoption ofconstitution after registration. Considering the aspect of Corporation Act, it can be stated that ifbusiness organization does not want to have constitution then replaceable rules can be used by it.Section 117: This section of Corporation Act (2001) presents that the main objective ofreplaceable rule scheme is to save cost and enhance efficiency as well as uniformity. Concernedsection of the Act presents that company (limited by shares) or an unlimited company which isapplying for the registration needs to include basic information about the shares which membersare agreed to take up (Constitution and replaceable rules, 2017). Further, amended section 117(2) exhibits that information regarding rights and conditions attached with the shares need to beincluded in application. Along with this, members who have given their consent in relation to bea member also need to be included in the concerned application of registration. Along with this,replaceable rules in
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