The Corporations Act, in section 134, demands all proprietary companies be granted a constitution upon incorporation. The constitution sets out the company's desired goals, together with the scope of the company's pursuits and some interior administrative concerns. It's uncomplicated to presume, then, that a constitution will enshrine the rights and responsibilities of shareholders. In reality nevertheless, it does hardly any. This could make shareholder differences very difficult to navigate through, since only around 5% of
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