A company can issue new shares to a new or existing shareholder after the company has been registered. Section 254X in the Corporations Act 2001 (Cth) states that a company must notify ASIC of a share issue within 28 days in the prescribed form which sets out:
- The number of shares that were issued;
- The class to which each share belongs;
- The amount agreed to be paid;
- The amount unpaid (if any) on each of those shares; and
- If the shares are issued for non-cash consideration under a contract, the company must also lodge a Form 207Z - Certification of compliance with stamp duty law which certifies that all state and territory stamp duty associated with the contract has been paid. Additionally, if the company is a public company, either a Form 208 or a copy of the written contact must be lodged.
In order to notify ASIC of a share issue, a company will need to lodge a Form 484 – changes to company details which will contain all of the required information above (excluding the additional forms). Patricia Holdings can assist with preparation and lodgement of the Form 484 as well as the relevant minutes/resolutions. Simply place your order for ‘Standard ASIC Company Changes’ as part of our company secretarial service. This Form should be lodged within 28 days of the changes taking effect to avoid late fees.