It is a requirement of the Corporations Act 2001 that companies hold capital contributed on the issue of shares in trust until the application is made.

Question

Quizplus · Accepted Answer

The Corporations Act 2001 does not require companies to hold capital contributed on the issue of shares in trust until the application is made. Instead, it regulates how companies must deal with share application money, including requirements for dealing with the funds, but it does not specifically mandate holding the capital in trust.

It Is a Requirement of the Corporations Act 2001 That