Cancel forfeited shares. ASIC Registered Agent.
Forfeiture of uncalled or unpaid shares in your ASIC company from $330! Forfeiture package includes all documentation required to cancel (forfeit) shares.
A company may by resolution cancel shares that have been forfeited and reduce its share capital by the amount that has been forfeited under the terms on which the shares they were issued pursuant to section 258D Cancellation of Forfeited Shares of the Corporations Act and the company’s constitution. Depending on the terms of the company’s constitution a company may forfeit shares if:
Generally, if the shares are forfeited the shareholder no longer owes a debt to the company for those forfeited shares. Once the resolution has been passed at a general meeting to cancel forfeiture shares, ASIC must be notified of the change within one month after the cancelation of shares.
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