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Company Secretarial

Learn about ASIC's corporate compliance requirements and how we can help.

Does my company need a constitution?

A constitution sets out the rules by which a company is governed and may be adopted before or after registration of the company. If a company chooses not to adopt a constitution the default set of rules in the Corporations Act 2001 known as the replaceable rules will apply.

Generally, a company will be free to operate under the replaceable rules; however these rules are not applicable to a proprietary company where the same individual is both the sole director as well as the sole shareholder.

Similarly, if the company is to qualify as a special purpose (Home unit, Not-for-profit or Superannuation trustee) company in order to attract a reduced annual fee, it will need to be governed by a constitution which contains clauses specific to each type of company. A Not-for-profit company may also require specific clauses in order to qualify for tax concessions with the ATO.

Patricia Holdings has constitutions that are suitable for each of the above purposes.

Company Secretarial

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Patricia Holdings Company Secretarial
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