Corporations Act 2001

The Corporations Act and other laws impose obligations on companies themselves and on their directors and company secretaries. Some of the more important obligations imposed under the Corporations Act are discussed below.

4.1 Use of company name and ACN

The name of a company must be shown at all the company’s business premises (including its registered office) that are open to the public. The company’s name and its ACN or ABN (if the last 9 digits are the same, and in the same order, as the last 9 digits of its ACN) must appear:

• on some of its public documents; and

• on its cheques and negotiable instruments; and

• on all documents lodged with ASIC; and

• if it has one, on its common seal.

[sections 123, 144, 147—156, ASIC Practice Note 47]

4.2 Extract of particulars

Each year, ASIC issues each company with an extract of particulars within 2 weeks of the company’s review date (which is generally the anniversary of the company’s registration). The extract includes details recorded on ASIC’s database such as:

• names and addresses of each director and company secretary;

• issued shares and options granted;

• details of its shareholders;

• address of its registered office;

• address of its principal place of business.

If any of the details are not correct as at the date the extract is received, the company must correct those details.

[Sections 346A and 346C]

4.3 Review fee

A company must pay a review fee to ASIC each year.

[Corporations (Review Fees) Act 2003]

4.4 Notification to ASIC of changes

The company must notify ASIC if certain basic changes to the company occur. The following table sets out these notification requirements.