Shares & Shareholders

Can you issue Shares after Registration?

Yes, you can issue new shares or make changes to the share allocation after the initial share issue. ASIC classifies these actions under “Changes to the Share Register” and you must notify ASIC accordingly. 

General guide to notifying ASIC of changes to the register (Taken from ASIC website)

All companies

Type of change

What to lodge

When to lodge

New issue (s254X(1))

A new class of shares is issued

Change to company details

Within 28 days after the issue

New issue – current class (s254X(1))

New shares are issued within a current class (e.g. 500 ‘A class’ shares become 600 ‘A class’ shares)

Change to company details 

Within 28 days after the issue

Division of a class (s246F(1)(a))

Shares that were previously undivided are divided into different classes (e.g. 200 ‘A class’ shares are divided into 100 ‘B class’ and 100 ‘C class’ shares)

Notification of division or conversion of classes of shares (Form 211)

Within 14 days after the division

Conversion of a class (s246F(1)(b))

Shares are converted into another class (e.g. 500 ‘A class’ shares become 500 ‘B class’ shares)

Notification of division or conversion of classes of shares (Form 211)

Within 14 days after the conversion

Conversion of shares within the same class to a larger or smaller number (s254H)

When any company passes a resolution to convert all or any of its shares into a smaller or larger number of shares (e.g. 100 shares are converted to 1000 shares)

Notification of resolutions regarding shares (Form 2205)

Within 1 month after passing the resolution

 

Source: ASIC Website

August 23, 2016 09:06