Requirements for field "If shares were issued for other than cash, were some or all of the shares issued under a written contract?"

Within the Issue of Shares form the field "If shares were issued for other than cash, were some or all of the shares issued under a written contract?" requires a "Yes" or "No" answer:
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The above field is based off ASIC Form 484, Section C2 Issue of Shares. If all shares were issued for cash, "No" will be ticked in this section:

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If "No" is selected, no further documents need to be lodged with ASIC, with the exception of Public Companies requiring a Form 208, which needs to be prepared directly via ASIC. 

If "Yes" is selected, this condition is for Companies which issue non-cash consideration under a written contract e.g. some Companies give their Shareholder Shares of a subsidiary Company as 1- for -1 spin off. In those circumstances the written contract would need to be stamped and a Form 207Z lodged (directly with ASIC) along with the Form 484.

 

If the Company issues Cash issue/ Non-cash shares :

Company Type

Type of Change

Option to be Ticked in form 484

Forms to be lodged

Proprietary Company

Cash Issued Shares

No

No further forms need to be lodged

Proprietary Company

Non-cash shares (written contract or 1-1 spin off)

Yes

  1. Form 484 (with option ticked as Yes)
  2. Certification of stamp duty law (form 207Z through ASIC directly)

Public Companies

Cash issued Shares

No

No further forms need to be lodged

Public Companies

 

Non-cash shares issued

Yes

  1. Form 484 (with the option ticked as Yes)
  2. Certification of stamp duty law (Form 207Z through ASIC directly)
  3. Copy of the written contract (In case you do not want to submit the written contract you can lodge Form 208 through ASIC directly)
  4. Form 208 through ASIC directly. (Form 208 will only be lodged by Public Companies to notify ASIC of details of shares issued other than for cash where the shares were not issued under a written contract, or where the shares are issued under contract but the Company does not want to lodge a copy of the written contract.
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