Question
How can I change the Consideration and Amount Paid of Shares?
Answer
Firstly, the Consideration Paid is the amount the new Shareholder will pay in exchange for the shares. The Amount Paid, as recorded in ASIC, is the original value of the Shares when they were originally issued.
When preparing a Transfer of Shares form 484C3, it is only used to transfer the ownership of the shares, and cannot change the share value or price.
Consideration Paid
You have the ability to change the Consideration Paid in the Share Transfer form.
Within the Share Transfer form, the "Consideration Paid" value will pre-fill, depending on the "Number" value entered. The information is pre-filled as per the Amount Paid recorded in the allotments table in the Company Profile.
The Consideration Paid amount is editable, you can change this to a higher or lower amount. You are also able to add more than 2 decimals, however these will be rounded to 2 decimals once the documents are generated.
Note: there is no consequence to the rounding, as ASIC only records the original value of the Shares, therefore the Consideration Paid amount will not change the total Amount Paid on ASIC's records.
Amount Paid
If the Amount Paid/Unpaid value requires updating, this needs to be changed via ASIC directly. You can contact ASIC for information on how to lodge the change.
Once this has been lodged with ASIC, the new values will display on NowInfinity.