Suche senden
Hochladen
The Origins of Company Title
•
Als PPTX, PDF herunterladen
•
1 gefällt mir
•
835 views
TEYS Lawyers
Folgen
All you need to know about how company title came about
Weniger lesen
Mehr lesen
Bildung
Melden
Teilen
Melden
Teilen
1 von 19
Jetzt herunterladen
Empfohlen
Company Title Conversion
Company Title Conversion
TEYS Lawyers
The Strata Manger's Role in Owners Corporation Finances
The Strata Manger's Role in Owners Corporation Finances
TEYS Lawyers
Compliance with strata and other applicable laws
Compliance with strata and other applicable laws
TEYS Lawyers
Business Organization
Business Organization
Jayvee Jacobe
Legal issues 2011
Legal issues 2011
Jan Bendtsen
Repairing and Maintaining Common Property the Inconvenient Truth
Repairing and Maintaining Common Property the Inconvenient Truth
TEYS Lawyers
The Real Deal Webinar Series: Recent Trends and Legal Developments You Should...
The Real Deal Webinar Series: Recent Trends and Legal Developments You Should...
Winston & Strawn LLP
Come to Terms with Angel & Venture Term Sheets
Come to Terms with Angel & Venture Term Sheets
The Capital Network
Empfohlen
Company Title Conversion
Company Title Conversion
TEYS Lawyers
The Strata Manger's Role in Owners Corporation Finances
The Strata Manger's Role in Owners Corporation Finances
TEYS Lawyers
Compliance with strata and other applicable laws
Compliance with strata and other applicable laws
TEYS Lawyers
Business Organization
Business Organization
Jayvee Jacobe
Legal issues 2011
Legal issues 2011
Jan Bendtsen
Repairing and Maintaining Common Property the Inconvenient Truth
Repairing and Maintaining Common Property the Inconvenient Truth
TEYS Lawyers
The Real Deal Webinar Series: Recent Trends and Legal Developments You Should...
The Real Deal Webinar Series: Recent Trends and Legal Developments You Should...
Winston & Strawn LLP
Come to Terms with Angel & Venture Term Sheets
Come to Terms with Angel & Venture Term Sheets
The Capital Network
Startup Istanbul 2016 / Anil Advani - Inventus Law
Startup Istanbul 2016 / Anil Advani - Inventus Law
Startup Istanbul
On-the-Ground Challenges and Opportunities in Solar Implementation
On-the-Ground Challenges and Opportunities in Solar Implementation
Frederick Heinle
VFB 2013 - Partnering for Innovation - Stirling Dynamics
VFB 2013 - Partnering for Innovation - Stirling Dynamics
Science City Bristol
Business Ownership
Business Ownership
Eastern New Mexico University
Incorporate 101
Incorporate 101
The Company Corporation
Come to Terms with Angel & Venture Term Sheets
Come to Terms with Angel & Venture Term Sheets
The Capital Network
Wilmer Hale At Highland Capital Partners 7 10 07
Wilmer Hale At Highland Capital Partners 7 10 07
Michael Gaiss
Session 7 legal (eng) vcic bootcamp 2014
Session 7 legal (eng) vcic bootcamp 2014
Vietnam Climate Innovation Center
Shadow Directors and Equitable Subordination - Carsted Rosenberg Advokatfirma
Shadow Directors and Equitable Subordination - Carsted Rosenberg Advokatfirma
Carsted Rosenberg Advokatfirma
12 Great Ideas in 60 Minutes
12 Great Ideas in 60 Minutes
Skoda Minotti
FEDCON Summit: Teaming Arrangements
FEDCON Summit: Teaming Arrangements
NC Military Business Center
FEDCON Summit: Change Orders & Contract Disruptions/Delays
FEDCON Summit: Change Orders & Contract Disruptions/Delays
NC Military Business Center
An Tearman Partnership
An Tearman Partnership
ChrisJCook
Andrew Hedges, Partner at Norton Rose Fulbright LLP - Onsite Generation Solut...
Andrew Hedges, Partner at Norton Rose Fulbright LLP - Onsite Generation Solut...
Global Business Events
Ip 101 for Startups
Ip 101 for Startups
Fenwick & West
Privacy for Strata Managers and & OCs / BCs
Privacy for Strata Managers and & OCs / BCs
TEYS Lawyers
Changes to the Owners Corporation Act 2006
Changes to the Owners Corporation Act 2006
TEYS Lawyers
Business Orrganization.pptx
Business Orrganization.pptx
prabhakarangurunatha1
Strata Bylaws / Rules And The New Fourth Level Of Government
Strata Bylaws / Rules And The New Fourth Level Of Government
TEYS Lawyers
Asbestos A Practical Guide to Your Responsibilities Under WHS Laws
Asbestos A Practical Guide to Your Responsibilities Under WHS Laws
TEYS Lawyers
People, Parking & Ppets
People, Parking & Ppets
TEYS Lawyers
Top attorney in lee county - Ned William Hale
Top attorney in lee county - Ned William Hale
Edward William Hale Lee County
Weitere ähnliche Inhalte
Was ist angesagt?
Startup Istanbul 2016 / Anil Advani - Inventus Law
Startup Istanbul 2016 / Anil Advani - Inventus Law
Startup Istanbul
On-the-Ground Challenges and Opportunities in Solar Implementation
On-the-Ground Challenges and Opportunities in Solar Implementation
Frederick Heinle
VFB 2013 - Partnering for Innovation - Stirling Dynamics
VFB 2013 - Partnering for Innovation - Stirling Dynamics
Science City Bristol
Business Ownership
Business Ownership
Eastern New Mexico University
Incorporate 101
Incorporate 101
The Company Corporation
Come to Terms with Angel & Venture Term Sheets
Come to Terms with Angel & Venture Term Sheets
The Capital Network
Wilmer Hale At Highland Capital Partners 7 10 07
Wilmer Hale At Highland Capital Partners 7 10 07
Michael Gaiss
Session 7 legal (eng) vcic bootcamp 2014
Session 7 legal (eng) vcic bootcamp 2014
Vietnam Climate Innovation Center
Shadow Directors and Equitable Subordination - Carsted Rosenberg Advokatfirma
Shadow Directors and Equitable Subordination - Carsted Rosenberg Advokatfirma
Carsted Rosenberg Advokatfirma
12 Great Ideas in 60 Minutes
12 Great Ideas in 60 Minutes
Skoda Minotti
FEDCON Summit: Teaming Arrangements
FEDCON Summit: Teaming Arrangements
NC Military Business Center
FEDCON Summit: Change Orders & Contract Disruptions/Delays
FEDCON Summit: Change Orders & Contract Disruptions/Delays
NC Military Business Center
An Tearman Partnership
An Tearman Partnership
ChrisJCook
Andrew Hedges, Partner at Norton Rose Fulbright LLP - Onsite Generation Solut...
Andrew Hedges, Partner at Norton Rose Fulbright LLP - Onsite Generation Solut...
Global Business Events
Ip 101 for Startups
Ip 101 for Startups
Fenwick & West
Was ist angesagt?
(15)
Startup Istanbul 2016 / Anil Advani - Inventus Law
Startup Istanbul 2016 / Anil Advani - Inventus Law
On-the-Ground Challenges and Opportunities in Solar Implementation
On-the-Ground Challenges and Opportunities in Solar Implementation
VFB 2013 - Partnering for Innovation - Stirling Dynamics
VFB 2013 - Partnering for Innovation - Stirling Dynamics
Business Ownership
Business Ownership
Incorporate 101
Incorporate 101
Come to Terms with Angel & Venture Term Sheets
Come to Terms with Angel & Venture Term Sheets
Wilmer Hale At Highland Capital Partners 7 10 07
Wilmer Hale At Highland Capital Partners 7 10 07
Session 7 legal (eng) vcic bootcamp 2014
Session 7 legal (eng) vcic bootcamp 2014
Shadow Directors and Equitable Subordination - Carsted Rosenberg Advokatfirma
Shadow Directors and Equitable Subordination - Carsted Rosenberg Advokatfirma
12 Great Ideas in 60 Minutes
12 Great Ideas in 60 Minutes
FEDCON Summit: Teaming Arrangements
FEDCON Summit: Teaming Arrangements
FEDCON Summit: Change Orders & Contract Disruptions/Delays
FEDCON Summit: Change Orders & Contract Disruptions/Delays
An Tearman Partnership
An Tearman Partnership
Andrew Hedges, Partner at Norton Rose Fulbright LLP - Onsite Generation Solut...
Andrew Hedges, Partner at Norton Rose Fulbright LLP - Onsite Generation Solut...
Ip 101 for Startups
Ip 101 for Startups
Ähnlich wie The Origins of Company Title
Privacy for Strata Managers and & OCs / BCs
Privacy for Strata Managers and & OCs / BCs
TEYS Lawyers
Changes to the Owners Corporation Act 2006
Changes to the Owners Corporation Act 2006
TEYS Lawyers
Business Orrganization.pptx
Business Orrganization.pptx
prabhakarangurunatha1
Strata Bylaws / Rules And The New Fourth Level Of Government
Strata Bylaws / Rules And The New Fourth Level Of Government
TEYS Lawyers
Asbestos A Practical Guide to Your Responsibilities Under WHS Laws
Asbestos A Practical Guide to Your Responsibilities Under WHS Laws
TEYS Lawyers
People, Parking & Ppets
People, Parking & Ppets
TEYS Lawyers
Top attorney in lee county - Ned William Hale
Top attorney in lee county - Ned William Hale
Edward William Hale Lee County
Edward William Hale Lee County
Edward William Hale Lee County
Edward William Hale Lee County
Strata 101 Part 5 Financial Management & Records 6 August 2012
Strata 101 Part 5 Financial Management & Records 6 August 2012
TEYS Lawyers
Strata 101 Part 3 How the Body Corporate Functions
Strata 101 Part 3 How the Body Corporate Functions
TEYS Lawyers
Taming the Legal Lion: Critical Compliance Issues for Smart Nonprofits (hando...
Taming the Legal Lion: Critical Compliance Issues for Smart Nonprofits (hando...
Greenlights
Boe unit 2
Boe unit 2
DeepaliHiremath3
Classification Of Business.pptx
Classification Of Business.pptx
AmitRaj200
Earned Income 101 for Nonprofits
Earned Income 101 for Nonprofits
4Good.org
session6-prpbusentities-2015.pptx
session6-prpbusentities-2015.pptx
ArpitBansal77
Ch. 2 organizing and financing a new business itmamul akwan_825839_recording
Ch. 2 organizing and financing a new business itmamul akwan_825839_recording
Itmamul Akwan
Limited Liability
Limited Liability
tutor2u
Catharina min : 스타트업 미국 진출 법률자문
Catharina min : 스타트업 미국 진출 법률자문
VentureSquare
Powers, Duties and Liabilities of Directors and Officers
Powers, Duties and Liabilities of Directors and Officers
This account is closed
Directors and fficers duties van law-1662964-v1
Directors and fficers duties van law-1662964-v1
This account is closed
Ähnlich wie The Origins of Company Title
(20)
Privacy for Strata Managers and & OCs / BCs
Privacy for Strata Managers and & OCs / BCs
Changes to the Owners Corporation Act 2006
Changes to the Owners Corporation Act 2006
Business Orrganization.pptx
Business Orrganization.pptx
Strata Bylaws / Rules And The New Fourth Level Of Government
Strata Bylaws / Rules And The New Fourth Level Of Government
Asbestos A Practical Guide to Your Responsibilities Under WHS Laws
Asbestos A Practical Guide to Your Responsibilities Under WHS Laws
People, Parking & Ppets
People, Parking & Ppets
Top attorney in lee county - Ned William Hale
Top attorney in lee county - Ned William Hale
Edward William Hale Lee County
Edward William Hale Lee County
Strata 101 Part 5 Financial Management & Records 6 August 2012
Strata 101 Part 5 Financial Management & Records 6 August 2012
Strata 101 Part 3 How the Body Corporate Functions
Strata 101 Part 3 How the Body Corporate Functions
Taming the Legal Lion: Critical Compliance Issues for Smart Nonprofits (hando...
Taming the Legal Lion: Critical Compliance Issues for Smart Nonprofits (hando...
Boe unit 2
Boe unit 2
Classification Of Business.pptx
Classification Of Business.pptx
Earned Income 101 for Nonprofits
Earned Income 101 for Nonprofits
session6-prpbusentities-2015.pptx
session6-prpbusentities-2015.pptx
Ch. 2 organizing and financing a new business itmamul akwan_825839_recording
Ch. 2 organizing and financing a new business itmamul akwan_825839_recording
Limited Liability
Limited Liability
Catharina min : 스타트업 미국 진출 법률자문
Catharina min : 스타트업 미국 진출 법률자문
Powers, Duties and Liabilities of Directors and Officers
Powers, Duties and Liabilities of Directors and Officers
Directors and fficers duties van law-1662964-v1
Directors and fficers duties van law-1662964-v1
Mehr von TEYS Lawyers
The Use of Social Media in Strata Complexes
The Use of Social Media in Strata Complexes
TEYS Lawyers
The Truth About Strata Are Owners Really Complying With the Law
The Truth About Strata Are Owners Really Complying With the Law
TEYS Lawyers
Managing Common Property Reasonably
Managing Common Property Reasonably
TEYS Lawyers
Maintaining Common Property
Maintaining Common Property
TEYS Lawyers
Keeping Books and Records of an Owners Corporation
Keeping Books and Records of an Owners Corporation
TEYS Lawyers
The 10 Step Guide to WHS & Asbestos Compliance
The 10 Step Guide to WHS & Asbestos Compliance
TEYS Lawyers
Part Strata Part Stratum
Part Strata Part Stratum
TEYS Lawyers
Effective Levy Recovery
Effective Levy Recovery
TEYS Lawyers
Death on Common Property
Death on Common Property
TEYS Lawyers
Conducting Annual General Meetings
Conducting Annual General Meetings
TEYS Lawyers
Children, Leaks, Animals & Parking
Children, Leaks, Animals & Parking
TEYS Lawyers
Changing Strata Law
Changing Strata Law
TEYS Lawyers
Building Defect Disputes
Building Defect Disputes
TEYS Lawyers
Altering Lot Entitlements Presentation
Altering Lot Entitlements Presentation
TEYS Lawyers
Watergate: Supreme Court of Appeal Decision
Watergate: Supreme Court of Appeal Decision
TEYS Lawyers
VCAT Sneak Peek Manager Challenges Lot Owners and OC Desire to Terminate Mana...
VCAT Sneak Peek Manager Challenges Lot Owners and OC Desire to Terminate Mana...
TEYS Lawyers
VCAT Sneak Peek Lot Owners Take Care When Bringing a Claim Against OC to VCAT...
VCAT Sneak Peek Lot Owners Take Care When Bringing a Claim Against OC to VCAT...
TEYS Lawyers
VCAT Sneak Peek False Fire Alarm Call Outs 4 December 2013
VCAT Sneak Peek False Fire Alarm Call Outs 4 December 2013
TEYS Lawyers
VCAT Sneak Peak Operating a Serviced Apartment from Your Lot? 27 November 2013
VCAT Sneak Peak Operating a Serviced Apartment from Your Lot? 27 November 2013
TEYS Lawyers
VCAT Sneak Peak OC Managers Who Wear Other Hats 6 November 2013
VCAT Sneak Peak OC Managers Who Wear Other Hats 6 November 2013
TEYS Lawyers
Mehr von TEYS Lawyers
(20)
The Use of Social Media in Strata Complexes
The Use of Social Media in Strata Complexes
The Truth About Strata Are Owners Really Complying With the Law
The Truth About Strata Are Owners Really Complying With the Law
Managing Common Property Reasonably
Managing Common Property Reasonably
Maintaining Common Property
Maintaining Common Property
Keeping Books and Records of an Owners Corporation
Keeping Books and Records of an Owners Corporation
The 10 Step Guide to WHS & Asbestos Compliance
The 10 Step Guide to WHS & Asbestos Compliance
Part Strata Part Stratum
Part Strata Part Stratum
Effective Levy Recovery
Effective Levy Recovery
Death on Common Property
Death on Common Property
Conducting Annual General Meetings
Conducting Annual General Meetings
Children, Leaks, Animals & Parking
Children, Leaks, Animals & Parking
Changing Strata Law
Changing Strata Law
Building Defect Disputes
Building Defect Disputes
Altering Lot Entitlements Presentation
Altering Lot Entitlements Presentation
Watergate: Supreme Court of Appeal Decision
Watergate: Supreme Court of Appeal Decision
VCAT Sneak Peek Manager Challenges Lot Owners and OC Desire to Terminate Mana...
VCAT Sneak Peek Manager Challenges Lot Owners and OC Desire to Terminate Mana...
VCAT Sneak Peek Lot Owners Take Care When Bringing a Claim Against OC to VCAT...
VCAT Sneak Peek Lot Owners Take Care When Bringing a Claim Against OC to VCAT...
VCAT Sneak Peek False Fire Alarm Call Outs 4 December 2013
VCAT Sneak Peek False Fire Alarm Call Outs 4 December 2013
VCAT Sneak Peak Operating a Serviced Apartment from Your Lot? 27 November 2013
VCAT Sneak Peak Operating a Serviced Apartment from Your Lot? 27 November 2013
VCAT Sneak Peak OC Managers Who Wear Other Hats 6 November 2013
VCAT Sneak Peak OC Managers Who Wear Other Hats 6 November 2013
Kürzlich hochgeladen
Separation of Lanthanides/ Lanthanides and Actinides
Separation of Lanthanides/ Lanthanides and Actinides
FatimaKhan178732
Accessible design: Minimum effort, maximum impact
Accessible design: Minimum effort, maximum impact
dawncurless
POINT- BIOCHEMISTRY SEM 2 ENZYMES UNIT 5.pptx
POINT- BIOCHEMISTRY SEM 2 ENZYMES UNIT 5.pptx
Sayali Powar
SOCIAL AND HISTORICAL CONTEXT - LFTVD.pptx
SOCIAL AND HISTORICAL CONTEXT - LFTVD.pptx
iammrhaywood
CARE OF CHILD IN INCUBATOR..........pptx
CARE OF CHILD IN INCUBATOR..........pptx
GaneshChakor2
How to Make a Pirate ship Primary Education.pptx
How to Make a Pirate ship Primary Education.pptx
manuelaromero2013
Introduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptx
pboyjonauth
Hybridoma Technology ( Production , Purification , and Application )
Hybridoma Technology ( Production , Purification , and Application )
Sakshi Ghasle
Interactive Powerpoint_How to Master effective communication
Interactive Powerpoint_How to Master effective communication
nomboosow
Nutritional Needs Presentation - HLTH 104
Nutritional Needs Presentation - HLTH 104
misteraugie
Staff of Color (SOC) Retention Efforts DDSD
Staff of Color (SOC) Retention Efforts DDSD
David Douglas School District
“Oh GOSH! Reflecting on Hackteria's Collaborative Practices in a Global Do-It...
“Oh GOSH! Reflecting on Hackteria's Collaborative Practices in a Global Do-It...
Marc Dusseiller Dusjagr
Mattingly "AI & Prompt Design: The Basics of Prompt Design"
Mattingly "AI & Prompt Design: The Basics of Prompt Design"
National Information Standards Organization (NISO)
Organic Name Reactions for the students and aspirants of Chemistry12th.pptx
Organic Name Reactions for the students and aspirants of Chemistry12th.pptx
VS Mahajan Coaching Centre
TataKelola dan KamSiber Kecerdasan Buatan v022.pdf
TataKelola dan KamSiber Kecerdasan Buatan v022.pdf
Sarwono Sutikno, Dr.Eng.,CISA,CISSP,CISM,CSX-F
1029-Danh muc Sach Giao Khoa khoi 6.pdf
1029-Danh muc Sach Giao Khoa khoi 6.pdf
QucHHunhnh
Grant Readiness 101 TechSoup and Remy Consulting
Grant Readiness 101 TechSoup and Remy Consulting
TechSoup
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
SoniaTolstoy
Student login on Anyboli platform.helpin
Student login on Anyboli platform.helpin
RaunakKeshri1
Sanyam Choudhary Chemistry practical.pdf
Sanyam Choudhary Chemistry practical.pdf
sanyamsingh5019
Kürzlich hochgeladen
(20)
Separation of Lanthanides/ Lanthanides and Actinides
Separation of Lanthanides/ Lanthanides and Actinides
Accessible design: Minimum effort, maximum impact
Accessible design: Minimum effort, maximum impact
POINT- BIOCHEMISTRY SEM 2 ENZYMES UNIT 5.pptx
POINT- BIOCHEMISTRY SEM 2 ENZYMES UNIT 5.pptx
SOCIAL AND HISTORICAL CONTEXT - LFTVD.pptx
SOCIAL AND HISTORICAL CONTEXT - LFTVD.pptx
CARE OF CHILD IN INCUBATOR..........pptx
CARE OF CHILD IN INCUBATOR..........pptx
How to Make a Pirate ship Primary Education.pptx
How to Make a Pirate ship Primary Education.pptx
Introduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptx
Hybridoma Technology ( Production , Purification , and Application )
Hybridoma Technology ( Production , Purification , and Application )
Interactive Powerpoint_How to Master effective communication
Interactive Powerpoint_How to Master effective communication
Nutritional Needs Presentation - HLTH 104
Nutritional Needs Presentation - HLTH 104
Staff of Color (SOC) Retention Efforts DDSD
Staff of Color (SOC) Retention Efforts DDSD
“Oh GOSH! Reflecting on Hackteria's Collaborative Practices in a Global Do-It...
“Oh GOSH! Reflecting on Hackteria's Collaborative Practices in a Global Do-It...
Mattingly "AI & Prompt Design: The Basics of Prompt Design"
Mattingly "AI & Prompt Design: The Basics of Prompt Design"
Organic Name Reactions for the students and aspirants of Chemistry12th.pptx
Organic Name Reactions for the students and aspirants of Chemistry12th.pptx
TataKelola dan KamSiber Kecerdasan Buatan v022.pdf
TataKelola dan KamSiber Kecerdasan Buatan v022.pdf
1029-Danh muc Sach Giao Khoa khoi 6.pdf
1029-Danh muc Sach Giao Khoa khoi 6.pdf
Grant Readiness 101 TechSoup and Remy Consulting
Grant Readiness 101 TechSoup and Remy Consulting
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
Student login on Anyboli platform.helpin
Student login on Anyboli platform.helpin
Sanyam Choudhary Chemistry practical.pdf
Sanyam Choudhary Chemistry practical.pdf
The Origins of Company Title
1.
The Origins of
Company Title & the Challenges Facing Owners & Property Professionals in dealing with Company Title 12 December 2012 © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
2.
What is ‘company
title’? • Pre-dates first strata legislation in 1961 • First form of ‘horizontal subdivision of airspace’ • Investors purchase shares which give a contractual right of exclusive use • Contractual right not property ownership © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
3.
How is the
scheme run? • Incorporated entity • Board of directors • Board has extensive powers and discretion • Governed by constitution • Constitution = Articles of Association + Memorandum © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
4.
Strata Title Compared ©
Copyright 2012 Teys Lawyers www.teyslawyers.com.au
5.
Problems with Company
Title • Many relate to the corporate nature of the scheme • Extensive power and discretion given to board © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
6.
1. Difficulty Assigning •
Articles commonly require permission of board • If not then can use discretion • Applies to sale of shares and any short-term assignments © Copyright 2012 Teys Lawyers • Common Law – Must only act ‘bona fide’ in ‘best interests of the company’ www.teyslawyers.com.au
7.
Magill v Santina
[1983] • Shareholder requested permission to have grandson as tenant • Under market value as grandson suffering financial difficulty • Board of Directors refused tenancy on the basis that tenants would not treat the building the same as owners • Upheld by NSW Supreme Court of Appeal © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
8.
Ascot Investments v
Harper [1981] Family Court Act 1975 • S 80 ‘General power of court’ • May: • “order that any necessary deed or instrument be executed…” © Copyright 2012 Teys Lawyers High Court: • Family Court cannot enforce an assignment of shares if directors acting in manner consistent with constitution www.teyslawyers.com.au
9.
2. Oppression • NSW
Law Reform Commission: “the companies involved are usually small private companies in which the minority shareholders are particularly prone to the oppressive conduct of the majority” © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
10.
How does it
occur? • Board of directors has powers and discretion given by constitution • Rarely considered oppressive if acting in accordance with constitution • Re M Dalley: being a minority does not = oppression • Re G Jeffrey: inability to dispose of shares does not = oppression © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
11.
What is oppressive? •
Corporations Act ‘oppressive to, unfairly prejudicial to, or unfairly discriminatory’ © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
12.
Reasonable Person? • Wilson
v Meudon Pty Ltd • “to be judged from the viewpoint of a reasonable person associated with a home unit company” © Copyright 2012 Teys Lawyers • Sheldon v NRMA • Directors to be judged as ‘reasonable director’ in the circumstances www.teyslawyers.com.au
13.
3. Lack of
security of ownership • Ownership subject to constitution • Forfeiture of shares is a common remedy in Articles of Association © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
14.
4. Difficulty obtaining
a mortgage • Strata lending – 100% + -v• Company title lending – = 70-85% – IF AT ALL! © Copyright 2012 Teys Lawyers • Why? – Lack of security – Reduced market of purchasers – Increased administrative and legal costs in selling www.teyslawyers.com.au
15.
5. Reduced property
value • Estimated sale price: • 10-15% less than strata title unit © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
16.
6. Lack of
dispute resolution services • Strata Schemes Management Act • S 123 – person may apply for order to CTTT • S 128 – person may apply for mediation • S 125 – mediation must be attempted © Copyright 2012 Teys Lawyers • Company title schemes • Supreme Court or Federal Court • Costly • Time consuming • Fact-based decisions = less surety of success www.teyslawyers.com.au
17.
Sale of company
title units • Manager’s must: – Organise resolution of board in accordance with articles – Complete ‘Article 30 Certificate’ to ensure due diligence – Issue share certificates – Register transfer of shares with ASIC © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
18.
Converting to Strata
Title • Benefits: – Greater security for owners – Access to CTTT and mediation – Larger market of purchasers – Greater availability of financial lending – Increased property values © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
19.
Process of conversion 1.
Unanimous Approval 2. Plan of subdivision 4. Mortgagee approval 5. Lodgement with LPI © Copyright 2012 Teys Lawyers 3. Stamp duty www.teyslawyers.com.au
Jetzt herunterladen