FURTHER GUIDANCE ABOUT TOTAL AMOUNT AGREED TO BE PAID PER SHARE

This is the total amount the member/shareholder agrees to pay for EACH SHARE in the proposed company, irrespective of when it will be payable.
It may be as little as $'0.00' or as much as you like.

This amount may be agreed to be payable:

  • entirely on incorporation,
    OR
  • partly on incorporation and partly subsequent to incorporation,
    OR
  • entirely subsequent to incorporation.
The member/shareholder will be legally bound to pay this amount to the company.


Where should this money (if any) go?/To whom should it be paid?

To the extent that it is paid on incorporation, this amount -
  • will form part of the company's initial capital; and
  • ought (as a matter of good practice) be the paid into the company's bank account as the first deposit.
To the extent that it is paid subsequent to incorporation, this amount -
  • will also form part of the company's capital; and
  • ought (as a matter of good practice) be the paid into the company's bank account.
Incorporator.com.au   Copyright © 2000