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How to Hide Alternative Choice in the Company Constitution

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hi students professor orenberg here and welcome to our series on organizational choices this will be a series of videos covering which type of business association to form and why and were going to break this apart into a series of smaller videos to make it a little easier to remember all of the details that are involved in the study of business associations organizational choices so lets get started this series is going to proceed with six videos first were going to introduce the process of selecting a business entity by reviewing seven issues that are going to come up time and time again when deciding what entity to choose were then going to discuss the four major types of organizational choices general partnerships limited partnerships c corporations and limited liability companies in the context of those seven issues forming a matrix of effectively four entity choices by seven issues and then in our sixth video were going to summarize everything by briefly noting some alternat

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What is Section 140 of the Corporation Act?

Section 140(1)(b) of the Corporations Act states that [a] companys constitution (if any) and any replaceable rules that apply to the company have effect as a contract between the company and each director and company secretary.

What is Section 134 of the Corporation Act?

A companys internal management may be governed by provisions of this Law that apply to the company as replaceable rules, by a constitution or by a combination of both. Note: There are additional rules about internal management in ordinary provisions of this Law and also in the common law.

What is the purpose of the Corporations Act 2001?

The Corporations Act 2001 (Cth) is the principal legislation regulating business entities (primarily companies) in Australia. It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising.

What is an affiliate under the Corporations Act?

One entity is affiliated with another entity if one of them is the subsidiary of the other or both are subsidiaries of the same entity or each of them is controlled by the same entity or individual. If two entities are affiliated with the same entity at the same time, they are deemed to be affiliated with each other.

What is 136 of the Corporations Act?

ing to section 136 of the Corporations Act, a public company must notify ASIC of any changes made to its constitution within 14 days of the resolution being passed. A copy of the changes must also be provided. Depending on the type of change youve made, there are particular forms to submit.

What is Section 195 of the Corporation Act?

Section 195 provides that a director of a public company who has a material personal interest in a matter that is being considered at a directors meeting must not be present while the matter is being considered at the meeting or vote on the matter unless one of exceptions specified in s 195 applies.

What is Section 136 2 of the Corporations Act 2001?

Section 136 (2) of the Corporations Act provides that a company may modify or repeal its Constitution or a provision in its Constitution by special resolution. (b) that has been passed by at least 75% of the votes cast by members entitled to vote on the resolution.

What is Section 183 of the Corporations Act 2001?

Section 183 of the Corporations Act provides a civil obligation that a person who obtains information because they are or have been a director or other officer or employee of a corporation must not improperly use that information to gain an advantage for themselves or someone else or cause detriment to the corporation.

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Hide Alternative Choice in the Company Constitution