Introduction to Corporations

Introduction to Corporations

1. Public

   • Registered by ASIC with Ltd
   • Invite Public for Shares
   • 3 Directors
   • Unlimited Shareholders
   • ASIC 1/2 yearly and annual reports
   • AGM once a year

2. Proprietary

   • Registered by ASIC with Pty Ltd
   • Unable to raise funds from public
   • 1 Director
   • 50 Non employee shareholders
   • Lodge audited reports with ASIC

3. Characteristics

   • Liability of Owners
   • Continuous existence
   • Separate Legal Entity
   • Transferable Shares
   • Separation of ownership/management
   • No of Members/Directors