Opening a Bank Account

Banks are likely to ask for -

• a copy of the company's 'Certificate of Registration' (often referred to as a 'Certificate of Incorporation'); and
• a copy of the company's 'Constitution' (or, if their forms for new companies are particularly out of date, a copy of the company's 'Memorandum and Articles of Association').

If the company does not have a Constitution, simply tell the bank, or write in the relevant space on the bank's account application form -

'The company does not have a Constitution - it is instead relying upon the Replaceable Rules as it is entitled to do under section 134 of the Corporations Act 2001.'

(Use the above if the company does not have the same person as a sole director and sole shareholder.)

or

'The company does not have a Constitution (it is not required under the Corporations Act 2001 to have a Constitution). As the same person is the company's sole director and sole shareholder, sections 201F and 198E of the Corporations Act 2001 provide the company's rules of internal management.'

(Use the above if the company has the same person as its sole director and sole shareholder.)