How To Register A Company In Australia under the Corporations Act 2001 (Cth) to register Urban Pty Ltd, including the creation of the company’s internal management rules.
Before starting Urban Pty Ltd registration John and Vera must have to check the company name and trade mark availability to avoid the trade mark infringement. After finding availability of Urban Pty Ltd name and its trade mark. The john and Vera must submit an application for registration. John and Vera must address the following aspects in their application: Section 117 to 120 from corporation act 2001.
- Specify the type of company which is proposed to be registered either it is a public limited company or private limited company.
- It contains the company proposed name along with the name and complete address of each person who want to become a member.
- The present and given family name and address of each person who wants to become the director and company secretary.
- The address of the company’s proposed registered office.
- For a public company, the office timing if these are not according to standard opening hours along with its proposed business location if it is not the same with its registered office.
- It should be stated that, does this company is limited by shares or unlimited. It must determined the amount of shares of each partner along with the payment method. Either it will pay before registration or pay after registration.
- The proposed amount in favor of guarantee must be in writing.
- The state and territory in which the company is going to start its business.
- In case of public company, it must have a constitution on registration and a copy of constitution must be submitted along with the prescribed application form.
- An application must have the consents and agreements referred to all above mention steps and that will be kept in record of company.
After completing the above mentioned requirements of application, ASIC will give the company ACN. Then,It will register the company and issue the certificate to Urban Pty Ltd. It will contain the details about company name, company CAN, company type. It also Includes its registration act , state and territory of its business and the date of registration. (How To Register A Company In Australia)
Let’s talk about internal management rules for newly registered Urban Pty Ltd. A corporation act has the set of basic rules for internal management like appointments of employees and meeting etc. Some of these rules are mandatory for all companies. But there are few special rule for the single shareholder or single director company. Rest of other internal management rules is replaceable rules. The replaceable rule does not apply on single shareholder or single director company. A company that have its own constitution before the introduction of replaceable rule regime and has not replaced. A company does not have to its own separate constitution; it can simply get benefits from the corporation act. Only a company will need a constitution if it wants to displace, modify or add to replaceable rules. Section 134 to 141 from corporation act 2001 (How To Register A Company In Australia)