Details
Shares previously issued to members are cancelled.
Navigation
From the Main Toolbar, go to Company. |
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Select the Company from the list. |
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Select Shareholders |
Click
Select Cancellations
Instructions
CAS 360 will display the Cancellations screen.
Field
|
Explanation
|
---|---|
Transaction Date
|
Input the date of the cancellation |
Shareholder |
In the shareholder field, CAS 360 will display a list of the company's current shareholders |
Beneficial Owner | CAS 360 will automatically prefill this field if there is a beneficial owner. |
Share Type
|
In the Share type field, CAS 360 will display a list of the share types the shareholder holds |
Number of shares
|
Input the relevant number of shares effected |
Cancellation Amount Per Share
|
Input the amount the person will receive from the company for the each share cancelled. |
Cancellation Type
|
Select the Type of Cancellation (see below for an explanation on types) Note: Selecting Other will require you to enter a reason and a Corporations Act reference to explain the reason for the cancellation |
Certificate Type
|
CAS 360 will automatically select Transaction. Leave as is Note: CAS will determine the most appropriate type of certificate for the current share transaction. If the person is transferring or redeeming their shares, CAS will determine that NO share certificate is required. If the person is transferring or redeeming some of their shares, CAS will determine that a BALANCE share certificate is required. Otherwise, CAS will select a TRANSACTION share certificate. |
Meeting Status | Select the meeting status of the member which will appear on the Resolutions. |
Notes | Click | to add extra notes to appear on the Register of Members
Click
Cancellation Types
Forfeited Shares
A company may, by resolution passed at a general meeting, cancel shares that have been forfeited under the terms on which the shares are on issue.
Shares returned to a public company
A company may cancel shares returned to it and any reduction in the company's share capital that is involved
Shares returned to a public company - court order
Any reduction in a company's share capital because of an order
Other
Other cancellations that will be authorised by the relevant legislature
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Cover Letter (optional)
- Form SH06 - Notice of Cancellation of Shares
- Register of Members
- Allotment Journal (optional)
- Directors Minutes or Resolution
- Notice of Members Meeting
- Members Minutes or Resolution
- Members Consent
- Share Certificate