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Shareholders Rights / Directors Roles & Duties| Chapter 5 (ZG_4.5)

The means of becoming a member of a company in Australia Section 231 of the Corporations Act 2001 sets out ways of becoming a member. In practical terms there are several methods of becoming a member of a company:

•being identified as a member on the company’s application, lodged with theASIC s 120, for registration (Corporations Act 2001 (Cth)s 231(a))

•applying for and receiving an issue of shares pursuant to a disclosuredocument (under chapter 6D)

•transfer of shares – from another shareholder (a transfer of shares meansownership is transferred and the transferee is entered on the share register)

•receiving shares by transmission through death or bankruptcy

•converting debentures into shares or exercise of options
  • Business Law | Chapter 5
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