Remove a Managing Director kit

This minute is a record of the circulating resolution by all the directors for the removal of a Managing Director from office and ceases to be Managing Director because (s) he ceases to be a director.

The Australian Security and Investments Commission (“ASIC”) require an Australian company to keep this record under the Corporations Act 2001.

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Company Details
• How do I write the name of company?
• What is an 'ACN'?
• How many digits in an ACN?
• Is the ACN the same as the ABN?
Managing Director Details
• Why do you remove a Managing Director?
• Date of Managing Director ceasing office?
Directors Details
• Who is a director?
• What if I don't know who are the Directors?

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Company Details

• How do I write the name of company?

  You write the name of your company exactly as the name that appears on the Company registration when you first registered with ASIC.
  
  E.g. Manley Pty Ltd
  
  Correct way is: Manley Pty Ltd
  
  Incorrect: Manley Pty Limited
  or Manley Proprietary Limited
  or Manley Proprietary Ltd
  

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• What is an 'ACN'?

  "ACN" stands for Australian Company Number. It is a unique number given to every registered Australian company. You can find the "ACN" of your company on the Certificate of Registration you received from ASIC when you first registered your company.
  
  If you don't know the "ACN" of your company then you can leave it blank and handwrite it in later.
  

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• How many digits in an ACN?

  The ACN of a company usually has nine digits.
  
  For example the ACN of Smith Pty Ltd is ACN 999 250 250.

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• Is the ACN the same as the ABN?

  No.
  
  Although they are similar, the ABN has 11 digits and is mainly used for taxation purposes.
  E.g. ABN 22 345 666 897
  
  You need to put in the ACN. Don't put in the ABN.

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Managing Director Details

• Why do you remove a Managing Director?

  You remove a Managing Director when the current Managing Director when he/she ceases to be a Director.
  
  This happens when the Managing Director resigns from his position as a Director or when the Managing Director is removed by the Company as a Company Director.

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• Date of Managing Director ceasing office?

  This is the date when the Managing Director stops holding his position in the Company as a Director.

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Directors Details

• Who is a director?

  A Director is a person who is involved with the management of the company. Directors can be personally liable for any debts incurred by the company if the company trades while it is insolvent or fails to pay some taxes.
  
  

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• What if I don't know who are the Directors?

  Not sure of who is are all the directors of your company? (It is very sad that you don't know.)
  
  Firstly, if you don't know who the Directors of the company,have a look at your Company Secretary file.
  
  Alternately, you can do a search of your own companies' records at www.ASIC.gov.au.
  
  The remaining Directors are the Directors who were registered with ASIC.
  

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This document has been prepared by the law practice Law Central Legal