A restraint of trade agreement is a common clause in sale of business agreements. The clause will protect the purchaser of the business by preventing the vendor (or business seller) from opening a competing business nearby.This agreement is to be used in a sale of business. Restrains the vendor and key people.
A resolution is a formal way in which a company can note decisions that are made at a meeting of company members. There are two types of resolutions: ordinary and special. Under the Corporations Act 2001, most of the decisions that affect a company need to be made by a resolution.
Special Resolution Definition: … “Special Company Resolution means a resolution passed by a majority of not less than two-thirds of the votes cast by the shareholders who voted in respect of that resolution or signed by all the shareholders entitled to vote on that resolution.”
A Public Company Constitution differs from a proprietary Limited Company by being able to have more than 50 shareholders.
Pty Ltd Company Constitution. A‘Proprietary’ means ‘private’, and is the most popular for small businesses, to hold investments and to act as a trustee for private trusts. The ‘Pty Ltd’ stands for ‘Proprietary Limited’, and is the most common form of company.
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