Holding a company meeting? Here’s what you need to know There are two types of companies under Australian law refer to s45A CORPORATIONS ACT 2001 (Cth): proprietary or private companies and public companies. The fundamental difference between them is that a proprietary company can have no more than 50 non-employee shareholders and must not engage in any fundraising activity that would require the lodgement of a prospectus. A public company may have more than 50 non-employee shareholders and is allowed to engage in fundraising activities that require the lodgement of a prospectus. Only a public company can be listed on the stock exchange (ASX). Here we are focussed on proprietary or private companies incorporated in Australia. Following are the guidelines recommended to hold a private company meeting. Directors, or Officeholders, must consult their company constitutions to ensure...