Australia has a highly developed, mixed economy. As of 2019, its estimated GDP was at AUD1.89 trillion and had a total wealth of AUD10.9 trillion.
The service sector dominates the Australian economy. It made up 62.7 per cent of the country’s GDP and had 78.8 per cent of the labor force in 2017. The Australian economy has remained stable and strong and has not experienced any recession since 1991 up to this time.
The Australian Securities Exchange, located in Sydney, is the world’s 16th-largest stock exchange for domestic market capitalization. Moreover, it has the largest interest rate derivative in the Asian market.
Going public is the best way to generate more capital for your company’s expansion if you operate a company. Moreover, going public may also improve your company’s recognition in the marketplace. Hence, lenders, vendors, and suppliers will consider the company as a better credit risk. Moreover, customers will feel the company as a good source of products and services. Public companies can also attract high-level employees and executives.
Once your company goes public and starts selling shares of stocks, you will need someone to maintain your share registry. Only professionals can do this job, so it is wise to hire a company that offers a service to keep your share registry in Australia.
For proper maintenance of your company’s share register, it is necessary to record specific details accurately:
When a new shareholder joins your company, you need to get that shareholder’s full name in the register. It could be either the name of an individual or the name of the company and its ACN.
If two entities hold the share, then you must include both names of the shareholders. The trustee’s full name and the trust itself should also be in the record if the shareholders hold their shares in a trust. Moreover, the register must also include the shareholder’s address and the date they were added to the registry. Furthermore, you should also record whether the share is held solely or through a trust.
The register also needs an update every time some changes occur on the shareholder’s detail. Also, if the shareholders change their name literally and not due to a transfer, the register should have the shareholder’s old and new name.
You should include specific details concerning the shareholder’s shares. Along with the shareholder’s information, they should include these details as well:
- The amount and the class of shares that the shareholders hold
- The price paid for the shares
- If the shares are fully paid or not
- The number of unpaid shares
If any of the shares in your company have serial numbers, you need to record this information as well. This also goes to all share certificate numbers, should be there if applicable.
Any transaction that affects the company shares is important to be in the share registry. Shareholder details should also be up-to-date if additional company shares are issued. Furthermore, if shareholders transferred their shares, you should record the number of the shares they are going to transfer, and the number of shares that they will acquire.
A share register is an essential company document that contains specific details of each shareholder and their shares. Maintaining it may seem easy, but when your shareholders’ number starts to grow, the job could be daunting. To ensure that every record is safe and accurate, you must entrust it to a business that manages a share registry in Australia.
It is also important to note that anyone can inspect the company’s share register. However, it is only free for the company’s shareholders. Any non-shareholders should pay a certain fee if they want to acquire the company’s share registry.