Details
Shares previously issued to members are cancelled. Section 254Y of the Corporations Act 2001 requires a company to lodge a Form 484 within one month after the shares are cancelled
Navigation
| From the Main Toolbar, go to Company. |
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| Select the Company from the list. |
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| Select Shareholders |  |
Click 
Select Cancellations
Instructions
CAS 360 will display the Cancellations screen.
|
Field
|
Explanation
|
|---|---|
|
Transaction Date
|
Input the date of the cancellation |
| Shareholder |
In the shareholder field, CAS 360 will display a list of the company's current shareholders |
| Beneficial Owner | CAS 360 will automatically prefil this field if there is a beneficial owner. |
|
Share Type
|
In the Share type field, CAS 360 will display a list of the share types the shareholder holds |
|
Number of shares
|
Input the relevant number of shares effected |
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Cancellation Amount Per Share
|
Input the amount the person will receive from the company for the each share cancelled. |
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Cancellation Type
|
Select the Type of Cancellation (see below for an explanation on types) Note: Selecting Other will require you to enter a reason and a Corporations Act reference to explain the reason for the cancellation |
|
Certificate Type
|
CAS 360 will automatically select Transaction. Leave as is Note: CAS will determine the most appropriate type of certificate for the current share transaction. If the person is transferring or redeeming their shares, CAS will determine that NO share certificate is required. If the person is transferring or redeeming some of their shares, CAS will determine that a BALANCE share certificate is required. Otherwise, CAS will select a TRANSACTION share certificate. |
| Meeting Status | Select the meeting status of the member which will appear on the Resolutions. |
| Notes | Click  to add extra notes to appear on the Register of Members |
Click 
Cancellation Types
Forfeited Shares
A company may, by resolution passed at a general meeting, cancel shares that have been forfeited under the terms on which the shares are on issue.
Shares returned to a public company
A company may cancel shares returned to it under section 651C, 724(2), 737 or 738 and any reduction in the company's share capital that is involved is authorised by this subsection.
Shares returned to a public company - court order
Any reduction in a company's share capital because of an order under section 1325A is authorised by this subsection.
Other
Other cancellations that will be authorised by the Corporations Act under the Provisions of s258E.
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Directors Meeting Minute or Resolution
- ASIC Form - Change to Company Details Form 484 Section C
- Registers – Members
- Share Certificates
- Allotment Journal (optional)
- Members Meeting Minute
- Members Consent
CAS 360 allows you to prepare documents and then notify ASIC through electronic lodgement via the Documents Screen. For more information on how to do so, click here.