- published: 23 Jan 2007
- views: 4131
A proprietary company is a form of privately held company in Australia and South Africa that is either limited or unlimited. However, unlike a public company there are, depending on jurisdiction, restrictions on what it can and cannot do.
In Australia, a proprietary company is defined under section 45A(1) of the Corporations Act 2001 (Cth).
The Act puts certain restrictions on proprietary companies such as not permitting them to have more than 50 members (shareholders). Another important restriction relates to fundraising. A proprietary company must not engage in fundraising that would require a disclosure document such as a prospectus, an offer information statement, or a profile statement to be issued (sec.113(3)). The Act states in which circumstances a company must issue a prospectus when attempting to raise funds. This means that a proprietary company must not offer its shares to the public.
Section 45A of the Act also distinguishes proprietary companies as either "large proprietary" or "small proprietary". The differences here relate to issues such as operating revenue, consolidated gross assets, and the number of employed persons.
Nim w poranku dloni zlozysz chleb nadziei
Zanim swit nadejdzie, pozwol by czas plynal w tobie.
Chce jeszcze raz stac sie dzieckiem co zna poranku imie
Chce dotknac gwiazd, chce rzeka byc ktora przez nas plynie.
Czas juz zamknac drzwi wyruszyc I nowe dni powitac bo po to juz sa
Spojrz prosto w oczy I podnies w gore dlon badz fala co stale bije o lad
I w imie tej rzeki co plynie z serc do serc z rak do rak
Zanim zrozumiemy jaka piesn spiewaja puste dlonie swiata
Zanim schylisz glowe aby ukryc lzy, tylko wiary trzeba aby isc
Noc sie konczy oto wstaje nowy swit wiec wstan I idz
Czas juz zamknac drzwi wyruszyc I nowe dni powitac bo po to juz sa
Spojrz prosto w oczy I podnies w gore dlon badz fala co stale bije o lad
I w imie tej rzeki co plynie z serc do serc z rak do rak
Czas juz zamknac drzwi wyruszyc I nowe dni powitac bo po to juz sa