The sole director/secretary/member/shareholder must:
· ordinarily reside in Australia - sections 201A(1) and 204A(1) of the Corporations Act 2001;
· be a natural person (i.e. a human being) - he or she cannot be a body corporate, nor a trust, nor a partnership, nor a club - sections 201B(1) , 117(2)(d) and 204B(1) of the Corporations Act 2001;
· be at least 18 years old - sections 204B(1) and 201B(1) of the Corporations Act 2001;
· not be an undischarged bankrupt or subject to a deed of arrangement or a composition with creditors - sections 201B(2), 206B(3) and 206B(4) of the Corporations Act 2001; and
· not have been convicted of any of certain types of offences - see sections 201B(2) and 206B(1) of the Corporations Act 2001.
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