Director ID's are now required to be completed for all directors. To read about applying please click here
Previously, the Corporations Act required a proprietary company to comply with company rules which were specified in the Memorandum and Articles of Association and a minimum of two directors.
Amendments to the Corporations Act made in December 1995 simplified the law to permit sole director and sole member companies and reduce the financial reporting obligations of small proprietary companies.
Now, companies can operate under a constitution (replacement of Memorandum and Articles of Association) and require only one director (sole director) to hold office.
You can run and manage your company on your own.
Simplified reporting and administration.
Greater protection of assets.
Reduction of directors liable.