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.
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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
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
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
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Manufacturing
Real Estate
Mining
Healthcare
Retail
Professional Services
Energy
Infrastructure
Telecommunications
Agriculture
Education
Transport and Logistics
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
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