All company officers must make sure that the company attends to some basic ‘housekeeping’ matters. The directors remain ultimately responsible for the company’s compliance with the Corporations Act.
When a company is set up, you must:
register
your company name with ASIC and obtain an ACN
have a
registered office. (If your company doesn’t occupy the same address as the
registered office, then you must have written consent from the person who
occupies the registered office.)
Make sure that you:
display
the company name at every place at which your company carries on business and
that is open to the public. Also, a public company must display its name and
the words ‘registered office’ prominently at its registered office.
display
the company name, the words ‘Australian Company Number’ (or ‘ACN’) or
‘Australian Business Number’ (or ‘ABN’) and the relevant number on:
the
common seal (if the company has one)
every
public document of the company
every
negotiable instrument (e.g. cheque, promissory note ) of the company, and
all
documents lodged with ASIC.
Your company must keep:
registers of members (shareholders)
registers of option holders (if you have them)
minutes of general meetings
minutes of meetings of directors
registers of charges created by the company over
company property (s271 of the Corporations Act was removed from
registration under the Personal Property Securities Act 2009. You
are required to have this register and make entries up until this point in
time), and
financial records that enable an assessment of
the company’s financial position and performance and are sufficient for
financial statements to be prepared (and audited if necessary) for at least
seven years after the transactions are completed.
JH Business Services & Taxation Accounting | Business Advisory | Tax Services Specialist in small to medium business & personal tax services
Norwest Office
Suite 205 29-31 Lexington Drive Bella Vista NSW 2153