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.
Type of change |
What to lodge |
When to lodge |
---|---|---|
New issue (s254X(1)) A new class of shares is issued |
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) |
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