BLAW20001 Lecture Notes - Lecture 11: Listing Rules, Employee Stock Ownership Plan, Extraordinary Resolution

• School: University of Melbourne
• Department: Business Law
• Course: BLAW20001
• Professor: All

Document Summary

Issuing shares to first shareholders: when company is formed, decide number and classes of shares to be issued, s 117(2)(k) among other things, applications for registration of a company must specify: Number and class of shares each member agrees in writing to take up. Amount (if any) each member agrees in writing to pay for each share. Increasing share capital: process of share issue. Generally, a decision of the board s 198a [rr] Must decide number of new shares, terms of issue and subscription price. Directors must exercise their share issue power in accordance with their duties: within one month of new share issue, company must notify asic s 254x. Public companies must also apply for a quotation of the new shares if the shares are in a class of securities that are quoted: types of share issues: Bonus issues: some restrictions on directors" and companies" powers exist.