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Board Resolution For Increase In Authorised Share Capital for Australia

Board Resolution For Increase In Authorised Share Capital Template for Australia

A formal corporate document under Australian law that records the board of directors' decision to increase the company's authorized share capital. This document outlines the current capital structure, proposed increase, and relevant amendments to the company constitution. It must comply with the Corporations Act 2001 (Cth) and includes necessary details for ASIC filing. For listed companies, it also addresses ASX requirements. The resolution serves as official evidence of the board's approval and provides the foundation for subsequent regulatory filings and share capital modification.

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Board Resolution For Increase In Authorised Share Capital

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What is a Board Resolution For Increase In Authorised Share Capital?

A Board Resolution For Increase In Authorised Share Capital is a crucial corporate document used when a company needs to expand its share capital capacity. This document is required under Australian corporate law when a company anticipates future growth, plans for additional fundraising, or needs to accommodate share-based transactions. It must comply with the Corporations Act 2001 (Cth) and, for listed companies, ASX listing rules. The resolution includes specific details about the current share structure, proposed increase, justification for the increase, and necessary constitutional amendments. It serves as the primary evidence of proper corporate authorization for regulatory filings with ASIC and forms the basis for subsequent share capital modifications.

What sections should be included in a Board Resolution For Increase In Authorised Share Capital?

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Company Details: Full legal name of the company, ACN, and registered office address

3. Present Directors: List of directors present at the meeting and confirmation of quorum

4. Chairperson: Identification of the chairperson of the meeting

5. Background: Current authorized share capital, reason for increase, and business justification

6. Existing Capital Structure: Details of current authorized and issued share capital

7. Proposed Increase: Specific details of the proposed increase in authorized share capital

8. Resolution: Formal resolution text for increasing the authorized share capital

9. Constitutional Amendment: Resolution to amend the constitution if required

10. Regulatory Compliance: Authorization for filing necessary forms with ASIC and other regulatory bodies

11. Closure: Formal closing of the resolution

12. Signatures: Space for chairperson's signature and date

What sections are optional to include in a Board Resolution For Increase In Authorised Share Capital?

1. ASX Notification: Required only for listed companies - details of ASX notification requirements

2. Share Class Details: Required when the increase involves multiple classes of shares

3. Shareholders' Meeting: Required when shareholders' approval is needed - details of the proposed general meeting

4. Financial Impact: Optional section discussing the financial implications of the increase

5. Future Issuance Plan: Optional section outlining plans for issuing the additional authorized shares

What schedules should be included in a Board Resolution For Increase In Authorised Share Capital?

1. Schedule 1 - Current Share Capital Structure: Detailed breakdown of existing share capital including all classes of shares

2. Schedule 2 - Proposed Share Capital Structure: Detailed breakdown of share capital structure after the proposed increase

3. Appendix A - Constitutional Extract: Relevant extracts from the company constitution regarding share capital

4. Appendix B - Draft ASIC Forms: Copies of required ASIC forms to be filed

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions






















Clauses
















Relevant Industries

Financial Services

Technology

Manufacturing

Real Estate

Mining

Healthcare

Retail

Professional Services

Energy

Infrastructure

Telecommunications

Agriculture

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Relevant Teams

Legal

Corporate Secretariat

Finance

Compliance

Corporate Governance

Regulatory Affairs

Board Administration

Corporate Affairs

Risk Management

Executive Leadership

Relevant Roles

Company Secretary

Corporate Lawyer

Legal Counsel

Board Director

Chief Executive Officer

Chief Financial Officer

Compliance Officer

Corporate Governance Manager

Legal Manager

Company Director

Board Chairman

Corporate Affairs Manager

Finance Director

General Counsel

Regulatory Affairs Manager

Industries






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