Public Company Administration

Sydney Accounting Practice offers accounting and secretarial compliance for listed and unlisted public companies.

In general a public company must have at least three directors, two of whom must be ordinarily resident in Australia. A public company must also have at least one company secretary ordinarily resident in Australia. Public companies must hold an Annual General Meeting (that is, a general shareholders’ meeting) at least once in each calendar year and within five months of the close of each financial year. The financial year of most Australian taxpayers ends on 30 June, although permission can be obtained from ASIC and the Commissioner of Taxation to align the year end with a foreign parent’s year end. Accordingly, most Annual General Meetings must be held on or before 30 November. The company’s financial report, together with reports from the company’s directors and auditors (if applicable) must be available at the Annual General Meeting. Companies are required to maintain a register of members, a register of security interests affecting the company’s property and (if relevant) a register of option holders and debenture holders. Anyone can inspect these various registers.

For further information please contact Peter Dunoon on 02 8064 1845.