CORPORATE ACCOUNTING

Essay specific features

 

Issue:

Business

 

Written by:

Troy W

 

Date added:

August 6, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1121

 

Was viewed:

10159 times

 

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Essay content:

listed on a Stock Exchange to facilitate transferability. Proprietary companies on the other hand have specific limitations in terms of the amount and restrictions on its fundraising activities. Specific features of a proprietary company include the need to have a share capital (unlike a public company which may be limited by guarantee and not merely shares): ? a requirement to have at least one shareholder and only one director (three directors for a public company) and not more than 50 shareholders (not including employee shareholders) ? not required to restrict the transfer of its shares (however it may elect to do so) ? the use of the designation "Pty" or "Proprietary" in its name ? a requirement not to engage in any fundraising activity which would require it to lodge a disclosure document with ASIC...
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Providing the company complies with S117 of the Corporations Act, ASIC will: ? give the company an ACN Number ? register the company ? issue a certificate that states the company's name, ACN No. etc. Once registered, the company is capable of performing all the functions of a corporate body. Question 6...
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