Case Study : ' Tardis Cafe '

1471 Words6 Pages
Question 1: A.Adam, Ben, Chris and I decided to open a company named “Tardis Café” which is a proprietary limited company. Two of four are directors and four members have equal shares. We need to register a company. Firstly, we can search information through the Internet and register a company with ASIC. After that, we should fill the application and put signature to this. Secondly, send the application with required money to ASIC. Then, when they receive it, the company is given an ANC, register the company and issue a Certificate of Registration. Finally, ASIC will issue a unique eight-digit number affiliate with our company 's ACN (known as the 'corporate key ') to office address within two working days. It must be included on some…show more content…
Then, read the eligibility requirements of a business name holder and confirm it. There is a chance for people to make a double check of the application. Next, read the declaration and make it, and pay for this at the same time. The last step is that submit the transaction to ASIC and wait 2 working days. The most important thing is that the company’s name must not be registered and the name cannot similar to a business name which already registered because it would misleading consumers. Question 2: Issue: Who is liable for the payment of the Dalek – is it Tardis Café Pty Ltd or Ben? Law: 1.Every proprietary company must have at least one director. (Corporations Act 2001 (Cth) s 201A). A director must use their rights and fulfill their duties with the degree of care and diligence that a reasonable person would exercise in the environment. (Corporations Act 2001 (Cth) s 180 (1)). Directors and other offices of the company must exercise their powers for a proper purpose. (Corporations Act 2001 (Cth) s 181(1) (b)) 2. Shareholders have rights to receive information, including the right to inspect the company’s financial records, the right to inspect the minutes of meetings of the company and the right to receive annual financial reports. (Corporations Act 2001 (Cth) pt 2F.3, 2G.3, and 2m.3.) 3.The third party did not know that directors did not have the actual authority. Application: The background is that Ben is one of
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