Directors' Resolution to Remove Shareholder from the Register (Circulating Resolution)
This Directors Resolution to Remove a Shareholder from the Register is used to remove a shareholder from your company.
5.0 (5 reviews)
Last updated January 15, 2025
Under 5 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
The situation may arise that shareholder wants or needs to be removed from the company. A Directors Resolution to Remove a Shareholder from the register is used to confirm and record the removal of a shareholder from a company. When a company decides to remove a shareholder from the register this is done so in a meeting of the Directors of the company. Just as every change decided upon in a company meeting needs to be documented as a resolution, so too does the decision made by the directors to remove a shareholder from the register.
It is important that this is recorded as you have 28 days within which to notify ASIC of this change from the date it is made. If ASIC is not notified within this period, fines will apply.
The Legal Risk Score of a Directors' Resolution to Remove Shareholder from the Register (Circulating Resolution) Template
Our legal team have marked this document as medium risk considering:
- This is a standard document.
- The resolution relies on the unanimous consent of all officeholders, which could delay or complicate the appointment process if consensus is not readily achieved.
- ASIC must be notified for the change to be effective.
Users familiar with corporate governance will find the document straightforward, but should remain cautious about these gaps and consider additional safeguards or clarifications to mitigate potential risks.
Directors' Resolution to Remove Shareholder from the Register (Circulating Resolution) Checklist
Complete your free Directors' Resolution to Remove Shareholder from the Register (Circulating Resolution) with our checklist
Verify Signatures
Ensure that all officeholders who are entitled to vote have signed the document to confirm their unanimous agreement on the resolution.
Record Keeping
Maintain a copy of the signed resolution in the company’s records for legal and administrative reference.
Change the Register of Members
The register should reflect the removal.
Notify ASIC
ASIC must be notified of this change within 28 days.
Use this Directors Resolution to Remove a Shareholder from the Register if:
- You are a director of a company
- You need to remove a shareholder from the company
- You want accurate records of your meetings where a decision to remove a shareholder of the company has been made
What does the Directors Resolution to Remove a Shareholder from the Register cover?
- Details of the meeting where the decision was made
- Details of the shareholder to be removed from the company
- Confirmation that ASIC will be notified of this change
Other names for a Directors Resolution to Remove a Shareholder from the Register include:
- Resolution to remove a shareholder from the register
- Directors Resolution
Other documents you may need:
View Sample Directors' Resolution to Remove Shareholder from the Register (Circulating Resolution)
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