Robin Hood Limited's Constitution: An Analysis of Key Provisions

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Added on  2023/03/23

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This document presents a sample constitution for Robin Hood Limited, outlining key definitions, application of replaceable rules, and provisions related to share issuance and different classes of shares. It references the Corporations Act 2001 (CA) and the Australian Securities and Investment Commission (ASIC), detailing the powers of directors in issuing shares and the company's adherence to legal restrictions. The constitution specifies the presence of ordinary shares, preference shares, and redeemable preference shares, aligning with the rules of the Corporations Act. Desklib is a platform where students can find similar solved assignments and resources for their studies.
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CONSTITUTION for ROBIN HOOD LIMITED
1. Definitions
The following definitions would be applicable in this constitution unless the contrary is stated.
Australian Securities and Investment Commission (ASIC)
Corporation Act 2001 (CA)
This Constitution (constitution)
Persons appointed and acting as directors (directors)
Provisional and concluding dividend (dividend)
Individuals or body corporate present at the time of meetings (present members)
Rate for dividends with respect to preference shares which is stated on share certificate
(Preference Rate).
Charged interest by bank, base rate (Prescribed rate)
Official and common seal of company (seal)
1.2 Interpretation
The italics and bold used in this constitution are only for expedience and do not change the
meaning of the words unless the contrary is provided.
2. Application of replaceable rule.
The rules are applicable of the following shares.
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3. As per section 112(1) of the CA the company can be registered as a no liability company as its
main purpose is mining.
4. As per section 112 (2) of the CA the company can be registered as it has a share capital and
does not have contractual rights with respect to this constitution for recovering calls on shares
who failed to pay.
5. Share issue
Directors have the power with respect to issuing share on behalf of the company which may
include shares along with other options over shares..
The directors have the power to issue any kind of share or security but subjected to the
restrictions provided by law.
6. Different classes of shares
The company has adopted the replaceable rules for its internal management and therefore has
ordinary shares.
This constitution shows that the company will additionally have preferences shares and
redeemable preference shares as allowed by the rules of the Corporations Act
COMMAN SEAL
ROBINHOOD LIMITED
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