The laws applying to Australian companies are substantial and complex. The key to Australian company law is the Corporations Act 2001 (Cth), as amended from time to time. It is a delight that a recent amendment created a “plain English” guide to company formation in Australia and company law as it relates to proprietary companies. Proprietary companies are the choice for small to medium business in Australia and account for approximately 98% of all companies in Australia.
This Small Business Guide is replicated in this document. We urge our clients and others registering and operating companies in Australia to read this document in full. Company law has many obligations on companies, its shareholders and the directors who control it. Not understanding your rights and responsibilities is asking for trouble. The guide is not exhaustive by any means; but it provides an excellent overview of the important things.
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