Kara and Karl Kelsey own and operate Karacal Kitchens, a small business operating from premises at Coleman Street in Moonah. The business custom designs, manufactures and installs bespoke kitchens. The business began operating in 2010 and by the end of 2018 it employed two cabinet makers and two designers.
Up until March 2019 Barry Brickle had worked for Karacal Kitchens. He lent the partnership $100 000 when it commenced business. Kara, Karl and Barry have all agreed that it is time that Barry stopped working for the partnership and for him to be repaid his $100 000. BAA215
In order to repay Barry this money Kara and Kelsey are considering registering a company and expanding the business to include friends Barbara and Adrian. Adrian has recently finished qualifications in design and manufacture and Barbara has always spoken about wanting to become involved in Karacal Kitchens in some capacity if the opportunity ever arose.
Adrian, Barbara, Karl, and Kara meet and decide that they wish to incorporate a company. They propose: BAA215
That two directors be appointed – Kara and Adrian. They will each also be employed by the company to
work 40 hours per week;
You are approached by Adrian and Barbara who seek advice on the following issues: BAA215
What type of company structure would you suggest is the most appropriate and why?
What is the role of the ‘replaceable rules’ and the benefits, or otherwise of adopting a
constitution for any company that they may establish? What are the ways that a constitution can be adopted and the major legal limits that exist in relation to altering a constitution?
Corporations Act 2001
(Cth) mandate that companies need to have regular
meetings? Barbara works as a geologist and spends at least three months of the year out of the country. How can she participate in meetings during her time overseas? BAA215
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