Thank you for your kind words:
Great thank you again for this!!!
Your assistance has made my business set up so much easier and put my mind at ease.
Thank you again!!!!
Janett Chow -
Minutes/Notices/Registers
Corporate governance encompasses a large range of corporate compliance and best practices and includes activities regulated by:
- Australian Securities & Investments Commission (ASIC) at www.asic.gov.au
- Australian Stock Exchange (ASX) for publicly listed entities at www.asx.com.au
- Australian Prudential Regulatory Authority (APRA) at www.apra.gov.au
- Australian Consumer & Competition Commission (ACCC) at www.accc.gov.au
To register a proprietary company in Australia, it is no longer mandatory to have a formal Constitution (formerly Memorandum and Articles of Association). From registration the company is governed by the provisions of the Corporations Act 2001 (Cth), some of which are replaceable. The 'replaceable rules' are set out in Section 141, however 'replaceable rules' do not apply to sole director/sole member entities. A proprietary company may optionally adopt a Constitution, the provisions of which may displace or modify a 'replaceable rule' or alternatively which may adopt a 'replaceable rule' not otherwise applicable to that company. Failure to comply with any applicable 'replaceable rule' is not of itself a contravention of the Act (Section 135(3)). However any 'replaceable rule' applicable to a company, whether adopted by Constitution or not, has effect as a contractual term between the company, its directors and members (Section 140).
