Where’s your Company Register?
Monday, 17 December 2012 | By Sam Hills
If you’ve lost your company register, you could be:
When creating a company, you usually receive a folder titled “Company Register”, containing the constitution, share register, minutes of meeting and other documents necessary to manage the company’s compliance. If your company has been around for a while you may have lost track of this folder or be assuming it is with your accountants, or at another office, when perhaps it is not.
- Breaching your obligations as a director under the Corporations Act 2001;
- Operating without your “rules of engagement”.
The Corporations Act 2001 says that, as a director, you have to keep adequate financial records of the company’s position and performance. The Company Register can play a role in this.
If the company is operating without its rules of engagement and a dispute arises between directors and shareholders, this could raise issues for the company and you could need to apply for a Court order to adopt a new constitution.
Find your Company Register now and put it somewhere safe.
Authors: Naomi Fink & Samantha Hills