Commercial Law · Additional Resources

Changes to the Corporations Law came into effect on the 1st July 1998 which rendered present Articles of Association of proprietary companies out of date. We recommend adopting a new updated constitution and believe that it is necessary to update Constitutions because of the substantial number of recent developments outlined hereunder.

Summary of Recent and Significant Changes to the Corporations Law (applicable to proprietary companies)

The First Corporate Law Simplification Act 1995

No financial statements mean no audit possible (unless required etc)

The Company Law Review Act 1998

(Based on an earlier proposed Second Corporate Law Simplification Bill)