What To Do About Lost Share Certificates
Share certificates are important documents. It can cause major problems if shareholders have lost their share certificates or dealt with them improperly. What should a company do when a shareholder says that they have lost their share certificate? Section 1070D(3) of the Corporations Act 2001 (Cth) (Corporations Act) provides that companies must issue a new […]
What Memorandum and Articles Mean for Company Title
All company title stakeholders are bound by the memorandum and articles of the company Constitution. What is the memorandum? It sets out what the company can legally do. What are the ‘articles of association’? They are an essential guide as to how the company runs. Articles have a significant number of obsolete clauses, such as […]
Does Company Title Mirror Strata Title?
Before strata title was introduced in the 1960s, apartments were governed by company title. Unlike owning a specific area of the building, as with a strata title, a company title is similar to owning shares in a company. The particular shares you may buy are allocated to your unit and car space. It shouldn’t be […]
Avoiding Liability With Company Title Building Maintenance
Companies should be vigilant to ensure that all defects in the company title building are promptly repaired. A failure to carry out proper maintenance can result in the company being held liable in damages or being required to pay a statutory penalty. Constitutional Responsibility The company will often be constitutionally obliged to keep the common property […]
Company Title – Who Owns What?
The division of rights between the shareholder and the company in a company title unit is often a controversial issue. As with many things in company title law, the terms of the constitution will determine whether or not a particular part of the building or parcel of land is owned by the company or whether […]
How To Recover Strata Levies
Companies raise levies from their shareholders to finance their operations. In order for levies to achieve their purpose, it is necessary for the company to take steps to ensure that the levies are paid by shareholders on time and in full. What is a Strata Levy? Typically, a company will raise annual or quarterly levies […]
Enforcing The House Rules Of A Company Title Building
The ‘house rules’ are a policy which regulates the conduct of residents and the running of a company title building on a day-to-day basis. They often include provisions about things like noise, renovations, short term leasing, the administration of the building and the use of common rooftop and garden areas. Who makes the house rules […]
How To Deal With Encroachments On Common Property
What is Encroachment? Sometimes, shareholders will mistakenly undertake renovation works on parts of common property. Companies should take action to prevent encroachments in order to ensure a shareholder does not exceed his or her entitlements under the Constitution in a way that is detrimental to the other shareholders or the smooth management of the building. […]
Thinking About Leasing or Buying a Company Title Unit?
The law around company title buildings is different to that of strata title buildings. So it’s important to have a grasp of how company title works if you’re thinking about buying or renting a company title unit. What is company title? Company title is a scheme of land ownership where a company owns the title to […]