Corporations Act: Constitution of Developing Builders Limited Analysis

This assignment provides an analysis of the constitution of Developing Builders Limited, based on the Corporations Act 2001. The constitution outlines key aspects of the company, including the definition of terms like ASIC and the Act, and the governance structure. It details the company's capital structure, allowing the board of directors to issue and allot shares, including ordinary and preference shares, and make alterations to capital. The constitution also addresses dividend distribution to shareholders and the use of a common seal. Furthermore, it establishes the board of directors' authority to alter the constitution, subject to the act's provisions, and emphasizes the act's precedence over the constitution. The document highlights the importance of compliance with the Corporations Act and provides insights into the company's internal management and operations.

CONSTITUTION OF DEVLEOPING BUILDERS LIMITED
(As adopted at the event of incorporation)
Corporations Act 2001
Company Limited by Shares
Rules of Developing Builder Limited
Preliminary
1. Company shall not be bind with the replaceable rules prescribed under the act
2. Definitions
a) For the purpose of this constitution, used terms does have following meanings
i. ASIC:- Australian Securities and Investment Commission
ii. Act:- Corporation Act 2001
iii. ASTC:- ASX Settlement and Transfer Corporation Pty Ltd
iv. Auditor:- Auditors of the company
v. Capital:- Share Capital
vi. Constitution:- This constitution
vii. Listing rules:- listing rules prescribed by ASX
viii. Seal:- Common seal of the company
3. The constitution will govern the internal management of the company.
4. Capital:-
a) Constitution of the company gives power to board of directors to :-

i. Issue and allot ordinary shares of the company with voting rights
ii. Issue and allot the preference shares in accordance with section 254 of
the act.
iii. Make alteration in the capital
5. Dividend:- Company has right to provide dividend to shareholders as a part of profit
6. Common Seal:- The company shall have a common seal
7. Alteration: - Board of directors of the company has power to make alteration in the
constitution subject to the provisions of the act and approval of members.
8. Superiority- The act is superior and any provisions of the constitution, which is outside of
the limit of the act, shall be considered void.
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