Steps for Registering and Incorporating a Company in Australia

Corporate Law
Answer to problem questions
25-May-18
(Student Details: )

Corporate Law
Table of Contents
Introduction................................................................................................................................3
I: Issue........................................................................................................................................3
R: Rule.......................................................................................................................................3
A: Application............................................................................................................................5
C: Conclusion.............................................................................................................................5
Introduction................................................................................................................................6
I: Issue........................................................................................................................................6
R: Rule.......................................................................................................................................6
CMS.......................................................................................................................................6
CM..........................................................................................................................................6
Lazarus Pty Ltd......................................................................................................................7
A: Application............................................................................................................................7
CMS.......................................................................................................................................7
CM..........................................................................................................................................8
Lazarus Pty Ltd......................................................................................................................8
C: Conclusion.............................................................................................................................8
Reference List............................................................................................................................9
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Corporate Law
Answer 1
Introduction
Business in Australia can be undertaken by opting for different types of business structures.
The leading business structures in the nation include trust, partnership, sole trader and
company form (Australian Government, 2017). In order to choose which business structure is
most appropriate, the features of each form and the needs of the choosing party have to be
analyzed. This discussion is focused on the steps required to be taken by Richard and his
sons, while they start a company form of business. This would involve the legalities involved
in incorporating and registering a company.
I: Issue
For Richard and sons, the main issue is the steps which they have to take for registering and
incorporating a company.
R: Rule
Corporations Act, 2001 (Cth), herein referred to as CA, is the applicable legislation on all the
companies in the nation. Section 112 of CA provides the two main types of companies in
Australia. These are public and proprietary company. Each of these categories also has
further classifications as well. These include public companies classification as limited by
shares, guarantees, no liability company and ones with unlimited share capital. The other set,
i.e. of public companies include limited by shares and the ones which are no liability
company. As against the public companies, there is a prohibition on proprietary companies
from offering shares to public and can only be issued to family or friends (AISD, 2016).
Section 148 of CA puts forth the provisions of naming of company. The name of a company
can be selected as per the Australian Company Number. The classification of company as per
section 112 clarifies on the suffix on company names. For instance, a limited company would
have the word limited at its end, the same type of proprietary company would cover the
words proprietary limited at its end, the no limited companies have these very words in the
end, and the unlimited proprietary companies have the wordings proprietary in the end
(Department of Industry, Innovation and Science, 2016).
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