Application to Register a No Liability Company: Law Assignment

This assignment is an application to the Australian Securities Investments Commission (ASIC) for registering a no liability company named "AZ Mining NL" under the Corporations Act 2001 (Cth). The application outlines the company's structure, including its sole object of mining, share capital, and compliance with sections 117(1), 112(2), 148, 149, 134, 201A, 254A of the Act. The document details the company's registered office, directors' information, and the issuance of ordinary, preference, and redeemable preference shares. The application emphasizes the company's adherence to Australian legal requirements for no liability companies, including the fulfillment of all necessary conditions for registration. The student provides a detailed account of the company’s structure, including its compliance with relevant sections of the Corporations Act, and provides references to support the arguments. The application concludes with a request for approval from ASIC to register the company, asserting that all requirements for registration have been met.

Running head: LAW OF BUSINESS ORGANISATION
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LAW OF BUSINESS ORGANISATION
Name of the student:
Name of the University:
Author’s note:

1LAW OF BUSINESS ORGANISATION
Name: (Your name)
Address: (Your address)
To,
The Chairman
Australian Securities Investments Commission
GPO Box 4000, Gippsland mail Centre
Victoria 3841
Australia
Sub: An application to register a no liability company
Dear Sir/Ma’am,
With due respect, I would like to inform you that I want to register a no liability company
and applying this for registering it under section 117(1) and (2) of the Corporation Act 2001
(Cth). A no liability company means a company must have a sole object of mining and is not
entitled to demand the unpaid issue amount of the shares (Ramsay 2015). This proposed
company has fulfilled the requirements of section 112 (2) of this Act, that it has a share capital,
the main object of business in this company is mining and it has no contractual obligation for
recovering calls which has made on the share from the defaulter shareholders. It should be
mentioned in this application that the sole aim of our company is to oil and mining business. The
name of the company is “AZ Mining NL” which is not available on the website of the Australian
Securities & Investments Commission (asic.gov.au 2020). The registered office address of our
company is 50 Jolimont Street, Jolimont, Victoria 3002 Australia, which has situated within the
territory of Australia. According to section 119A of this Act, the company should be

2LAW OF BUSINESS ORGANISATION
incorporated in the jurisdiction of capital or state territory of Australia. Our company is within
the jurisdiction of Victoria, that is, state jurisdiction and capable of registration. The requirement
described above has been fulfilled the requirements of Sections 148 and 149 of this Act, which
associate with the mane and abbreviation of the company. Section 134 of this Act has mentioned
that the internal administration of a company should be administered by the provisions of the
Corporation Act 2001 (Cth), which will apply as the replaceable rules, or by the constituents of
the company of by both. This section has been satisfied by the requirement of internal
management of this company, as it will govern by its constitution as well as the provisions of this
Act. Section 201A of this Act deals with the minimum numbers and residence of the directors.
There are three directors who are also the shareholders of the company till now. Their name and
addresses are shared here; 1. Chartolle Thomas resides at 1/2 Spade Street, Port Douglas,
Queensland, 4877, Australia 2.Oliver Thomas resides at 60 Miller Street, Strathdale, Victoria,
3550 Australia, and 3. Chrissy Teigan resides at 14d, 2 Hinkley Road Dawes Point, New
Southern Wales 2000 Australia. According to the section 201A of this Act, at least two numbers
of directors and shareholders must be the resident of Australia. In this company, all the directors,
as well as the shareholders, are the resident within the territory of Australia (Yogaratnam and
Xynas 2020). Our company has followed all the requirements of the section as mentioned above.
Section 254A of this Act has given the power to a company to issue shares. Our company has
issued three classes of share, such as ordinary shares, preference shares and redeemable
preference share. The company has issued 5000 ordinary shares $10 each on 01.01.2020. Section
254A (2) of this Act deals with the issuance of preference shares. If the several issues have
mentioned in the constitution of a company, such as repayment of the capital, the surplus assets
and the profit, the dividends (cumulative and non-cumulative), the election rights and payment of

3LAW OF BUSINESS ORGANISATION
the dividends and capital prior to the other shares, the company can issue the preference shares.
Our company has followed every requirement in the above section. It has issued 4000 preference
share $5 each on the same date of issuing the ordinary shares. Section 254A (3) of the Act has
dealt with the issuance of redeemable preference share. This is also a preference share, which
can be issued on the terms of liability of such redemption (Legislation.gov.au 2020). It can be
redeemed at the stipulated time or the option of the company or the possibility of the
shareholders (Bottomley 2016). This company has issued 2000 redeemable preference share $2
each on 10.01.2020 at the prospect of the company. Our company possesses all the requirements
for registering as a no liability company within the territory of Australia. We will fill up the
Form 201 of The Corporation Act 2001 for registration as a company of Australia. Therefore, it
can be concluded that, as our company fulfils all the requirements, then it is capable of
registration as a no liability company.
In this circumstance, I shall be highly obliged if you kindly grant my prayer and allow us
to register our company as a no liability company.
Thanking you.
Yours faithfully,
_______________

4LAW OF BUSINESS ORGANISATION
References
Asic.gov.au (2020). Registering a company | ASIC - Australian Securities and Investments
Commission. [online] Asic.gov.au. Available at: https://asic.gov.au/for-business/registering-a-
company/ Retrieved on 19 Jan. 2020.
Bottomley, S., 2016. The constitutional corporation: Rethinking corporate governance.
Routledge.
Legislation.gov.au (2020). Corporations Act 2001. [online] Legislation.gov.au. Available at:
https://www.legislation.gov.au/Details/C2017C00328 Retrieved on 19 Jan. 2020.
Ramsay, I., 2015. Enforcement of Continuous Disclosure Laws by the Australian Securities and
Investments Commission. Company and Securities Law Journal, 33(3), pp.196-204.
The Corporations Act 2001(Cth)
Yogaratnam and Xynas (2020). Corporations law: in principle / Jeswynn Yogaratnam, Lidia
Xynas. - Version details. [online] Trove. Available at: https://trove.nla.gov.au/work/211599519?
q&versionId=232376425 Retrieved on 19 Jan. 2020.