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Section 178A(1) Corporations Act 2001
Notice of Change to Member Register

Section 178A(1) of the Corporations Act 2001 (Cth) is ‘Notice of Change to Member Register’

and is extracted below.

If you require the services of a criminal defence team that specialises in corporate crime and compliance, call Sydney Criminal Lawyers today on (02) 9261 8881 to arrange a consultation.

Our criminal defence lawyers are vastly experienced in advising and representing corporations and individuals who are facing investigations for regulatory issues and proceedings for criminal offences, and our expertise in serious and complex cases means you can rest assured of receiving the most effective legal representation whatever your situation may involve.

The Legislation

Section 178A(1) of the Corporations Act 2001 (Cth) is Notice of Change to Member Register and reads as follows:

Notice of Change to Member Register

(1)  A proprietary company must notify ASIC within the time determined under section 178D and in the prescribed form, if:

(a)  it is required to add or alter a particular in the register it maintains under section 169; and

(b)  the particular is one required to be kept under any of the following:

(i)  subsection 169(1) (name and address and date of entry of member’s name into register);

(ii)  paragraph 169(3)(b) (number of shares in each allotment to the member);

(iii)  paragraph 169(3)(c) (the number of shares held by the member);

(iv)  paragraph 169(3)(d) (the class of shares held by the member);

(v)  paragraph 169(3)(ea) (the amount paid on the member’s shares);

(vi)  paragraph 169(3)(eb) (whether the member’s shares are fully paid);

(vii)  paragraph 169(3)(f) (the amount unpaid, if any, on the member’s shares);

(viii)  subsection 169(5A) (statement whether any of the member’s shares are held beneficially);

(ix)  subsection 169(6AA) (shares issued as a result of CSF offers).

The penalties

The maximum penalty for the offence of breaching Notice of Change to Member Register is:

60 penalty units (a Commonwealth penalty unit is currently $210).

However, it should be kept in mind that maximum penalties are reserved for the most serious cases.

Your legal team will be able to advise you of the essential elements the prosecution would need to prove in order to establish the offence, whether those elements are capable of being established in your particular situation, the most effective and efficient way forward and the likely outcome.

Why Sydney Criminal Lawyers®?

Choosing the right legal team to defend your reputation and interests can be a difficult process.

However, it is always important to look at a firm’s experience and results when making this decision.

At Sydney Criminal Lawyers®, we have extensive experience defending and winning some of the most complex criminal matters – so you can rest assured that you are in safe hands.

Our criminal law specialists will take the time in every case to carefully scrutinise all the evidence in order to identify problems with the prosecution case at an early stage in the proceedings.

Where issues are found, our lawyers will write to the prosecution asking to have the charges dropped on this basis – often sparing our clients the considerable time and expense associated with defended hearings.

However, should your matter proceed to court, our senior lawyers will represent you and present a strong defence case to maximise your chances of being found ‘not guilty.’

Our senior lawyers are highly skilled advocates who have been recognised for their expert knowledge of the criminal law, as well as their ability to obtain excellent results in difficult cases.

We can assist you in avoiding the harsh penalties imposed by the law if you simply wish to plead guilty – in these cases, our experienced advocates can prepare and present compelling sentencing submissions which focus on any positive factors of your case.

For the best defence in your case, get the experts on your side today.

Call us now on (02) 9261 8881 and book your FREE first conference with our criminal law specialists.

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