Tag Archives for " Shares "

A guide to ex gratia payments

By Vivian Michael | Startup Contracts

Photo by CoWomen on UnsplashThe word ex gratia means by favour. And, it’s commonly used in a legal context – in a nutshell it’s a payment that is made without a legal obligation. So below is what you need to know about ex gratia payments. In a hurry? Jump ahead.  Quick Navigation Ex gratia offers Is it ex gratia?Negotiating ex gratia paymentsYour […]

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Your guide to appointing a proxy at a private Australian company

By Vivian Michael | Shares

Photo by Parker Johnson on UnsplashIn this article, I will cover what you need to know about appointing a proxy at a private Australian company. This guidance is from the Corporations Act 2001. In a hurry? Jump ahead.  Quick Navigation Who can appoint a proxy?Votes Rights of proxies Appointment forms and listsAppointing a proxy Corporations Regulations 2001 2G.2.01Proxy documentsDirection about vote Chair to act […]

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The rights of a shareholder with over 50% voting rights in an Australian company

By Vivian Michael | Shares

Photo by Anete Lūsiņa on UnsplashBelow I’ll explain the rights of a shareholder with over 50% shares based on the Corporations Act.  And I am going to use the term shareholder because its more widely known than ‘member’ which is used in the Corporations Act 2001. So, here’s what a shareholder over 50% of shares can do.MeetingsIf company directors fail […]

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Varying and cancelling share class rights

By Vivian Michael | Shares

Photo by rawpixel on Unsplash​Here’s what you need to know if you want to vary or cancel rights for a certain share class. In a rush? jump ahead. Quick Navigation What are share classes?If your constitution sets out a procedure No constitution rulesNotice of variation or cancellationIssuing new class of shares varies rightsIf there’s no unanimous support to vary, cancel […]

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What goes into the shareholder register of your Australian company?

By Vivian Michael | Shares

Photo by rawpixel on UnsplashFirst, what exactly is a register? A register is a record of certain company information that must be kept because it’s a Corporations Act 2001.  Also, below I will use the term ‘shareholder’ because it’s more familiar than ‘member’.  Finally, I will only be covering companies with under 50 shareholders and companies that are not on the […]

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