from $753 (INCL ASIC FEE $93 & GST)
Under s162 of the Corporations Act 2001 (Cth), Public companies limited by shares can be converted to or from standard Pty Ltd companies. A company may be instructed by ASIC to do so, or, a company may voluntarily choose to do this.
How long does it take to Convert a Company Type?
The length of time will largely depend on the nature of the company conversion. The total timeframe is likely to be about 6-10 weeks, and will involve:
- The need to hold a members’ meeting to pass a special resolution to approve the conversion (generally, this requires 21 days’ notice of the meeting unless 95% of members agree to waive this notice), and approve a new constitution
- ASIC Forms will need to be completed and signed by an Officeholder and lodged within 14 days after the members resolution is passed
- Once ASIC has accepted the Forms, it will publish a notice in the Gazette that states that it intends to alter the details of the company’s registration. If no objections have been raised within one month of the notice, ASIC will proceed with the conversion.
What do we provide?
To process the conversion, we will provide:
- A new constitution
- Notice of the holding of a members’ meeting that provides 21 days notice and will need to be signed by a director (this is required unless 95% of members agree to waive this notice period)
- A members’ minute approving the proposal (and, if the 21 day notice period is waived, the minute will need to reflect this resolution too) which must be signed by the chairperson at the members meeting
- ASIC Forms which must be signed by an officeholder and returned to us
- Any additional information that is required due to the nature of the conversion.
Generally, we can provide this information to you within 48-72 hours of receiving a request.
What do we need from you?
To process the conversion, we will need you to provide us with the following:
- A completed order form
- The new constitution (if not using the Patricia Holdings standard template)
- Current company extract (or we can buy one for an additional $9)
- Up to date Members register
Common Seal
Common Seal is an optional extra for $88.00 (inc GST)
How long does it take to Convert a Company Type?
Once the order is received, Patricia Holdings will prepare all documentation usually within 48-72 hours.The total length of time from document preparation to ASIC updating the register though will largely depend on the nature of the company conversion. The total timeframe is likely to be about 6-10 weeks.
