When a company allots shares, they must inform ASIC within 28 days by lodging a Form 484 (Section C).
A company can issue different classes of shares. The rights and restrictions attached to shares in a class distinguish it from other classes. A company can use the standard class titles such as ordinary, A class or B class shares or choose their own title for each class of share.
|From the Main Toolbar, go to Company.
|Select the Company from the list.
CAS 360 will display the Allotments screen.
|Input the date of the allotment.
In the Allottee field, begin typing the new shareholder's name. CAS 360 will search the Global Contacts screen for the person. If the contact has not been previously added to the Global Contacts screen, will display.
Click to add a new contact.
|Click to add a beneficial owner from the contact screen if one applies. See beneficial owners for more information.
In the Share type field, begin typing the name of the share type to be allotted. CAS 360 will begin a search for previously added share types. If the share type has not been previously created, will display.
Click to add a new share type.
Click to add share premium paid on Shares
A premium is paid where shares are issued at a price in excess of their value.
Example: $10 is paid for a $1 Ordinary share, the Premium paid is $9.
Premium paid is NOT recorded on the ASIC form as it is not required. Since 1 July 1998 there is no need to specify the “par value (or face value) of a share. As a result, there is no share premium (refer to S.254C of the Corporations Act 2001).
This amount does not show on the Share Certificate at this stage.
Number Of Shares
|Input the number of shares allotted.
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 all 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.
|This will be the share certificate number. CAS 360 will automatically pre-fill a number based on previous shareholder transactions.
|Click to add information relating to the certificate location and Unique Numbers
|Select the consideration given to acquire the shares.
|Select the meeting status of the member which will display on the Resolutions.
|Click to add extra notes which will show on the Register of Members.
CAS 360 will display the Document Production screen and automatically select the documents required:
- Registers – Members
- Directors Meeting Minute or Resolution
- ASIC Form - Change to Company Details Form 484 Section C
- Share Certificates
- Allotment Journal
- Notices of Beneficial Ownership (only if a Beneficial owner was selected)
- Declaration of Trust (only if a Beneficial owner was selected)
- Form 208 (for Public companies and the consideration type is not Cash)
- Form 207Z (for Allotments or Subscriptions where the consideration type is Under a written contract)
- Members Meeting Minute
- Members Consent
- Application for Shares
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.