The Corporations Act and associated regulations cover some 2,500 pages and a company’s constitution as well as any shareholder’s agreement or other relevant documentation has to be read and understood in its context. The ASIC is responsible for supervising companies and policing compliance with the Corporations Act.
Many activities of and dealings with a company require lodgment of documentation with ASIC and there are usually strict deadlines for this. Breach of these deadlines in many cases is a criminal offence.
Shareholders and directors of a company may be acting with the best of intentions and not even realise they are breaching the company’s constitution and/or the Corporations Act so do not take this chance. Contact our Corporate Law Team specialists to make sure everything is compliant and in many cases we will show you a better and more effective way to achieve the desired results.
If you would like more information about our services in this area, please call us today.