Company register & its importance

Popularly called a commercial register, a company register is an official set of documents that it needed by every company to be complaint with the Corporations Act 2001. The set of documents needs to be up to date as the company goes through any kind of changes. The company register is required to be kept at either a registered office or principal place of business.

Every company register comprises of the following statutory registers:

• > Register of applications and allotments: This show the composition of shares and shareholders within the company.
• > Register of transfers: This records any share transfer that may have taken place between the shareholders.
• > Register of members: This is a list of all the names and addresses of the shareholders of the company.
• > Register of directors and secretaries: This document contains complete information with regard to the directors and secretaries of the company. It also contains information about the previous directors (within the last seven years). This register details the name, date of birth, nationality and addresses of the directors and secretaries involved within the company.

The minutes of every general meeting a company conducts must be recorded. Every company should offer its members minute books for review.

At registration, the minimum documentation required to satisfy the corporations act, 2001 is:

• > Certificate of Incorporation
• > Memorandum and Articles of Association
• > Register of Applications and Allotments
• > Register of Transfers
• > Register of Members
• > Register of Directors and Secretaries
• > Minutes
• > Share Certificates
• > Register of Charges
• > Documents Lodged with Registrar of Companies

As changes are made within the company, you are requested to update the above documents.

Every company is required to have an electronic company of the company register and hard copy. The hard copy maintains the company’s record for organisational purpose. The company register usually comes handy during company’s general meetings, for a professional corporate image and for the purpose of inspection by particular organisations who may request to view the company register of your company.

The company register is like a business register. At all times, the register must be present with the company. It contains information pertaining to incorporation, amendments, cessation and trading. It provides a complete picture of the legal status of the company and is a key archive for drawing up indicators of economic and business development in each area to which it belongs. If a company fails to present its register when asked for, it can be asked to wind up immediately.

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