Reckon Shelco Support and FAQs
Find our contact details and FAQs below
We welcome your feedback so we can continually improve our services.
Level 12, 65 Berry Street, North Sydney, NSW, 2060
Locked Bag 7522, McMahons Point, NSW, 2060
Frequently asked questions
Q1. What Is A Company?
A company is a separate legal entity created once ASIC enters it into its database through a process called “registration”. Its profits, losses, assets and liabilities are its own. The company is owned by its members (the shareholders) and run by the director (or directors). A company has all the powers of an individual including the right to:
Own and dispose of property and other assets;
Enter into contracts; and
Sue and be sued.
Once ASIC registers the company a certificate is issued with a company registration number, referred to as the Australian Company Number or “ACN”. This is the primary form of company identification. You can change the company’s name at any time through a vote by the shareholders but you must keep the ACN. Shareholders are not liable for the company’s debts. However, a director of a company may be liable for debts incurred by the company at a time when the company itself becomes unable to pay those debts. You should contact your accountant or solicitor to discuss which company structure is most appropriate for you.
Q2. Can I choose the company name?
Yes. Reckon Shelco’s online company registration allows you to check a proposed company name against ASIC’s database. Our system will inform you if the selected company name is available. However, note that certain words and phrases are classed as sensitive by ASIC. If this is the case, you will be prohibited from using them or you might have to justify why you are entitled to use the name. Please contact us if you would like further suggestions of overcoming potential naming issues.
Q3. How many people do I need to form a PTY LTD company?
For Proprietary Limited (or Private) companies the minimum requirement is one director (who must be an Australian resident) and one shareholder. As these can be the same person this means a single person can start a company. You’ll note that corporate secretaries are now optional for private companies.
Q4. Can I use a post office box as a registered address?
No. A street address is required.
Q5. What is a corporate key?
A corporate key is a security number required for lodging forms with ASIC. The eight digit code is specific to that company and is required when making amendments to a company e.g. directors, directors’ addresses etc. The number prevents unauthorised personnel lodging unlawful forms.
Q6. How long will it take to for the ACN to be returned?
Reckon Shelco has built an electronic interface with ASIC. Given the name is immediately accepted, you should receive your ACN within minutes of lodging your application for registration. You will receive a number of pieces of correspondence from Reckon Shelco. Initially, you will be sent a copy of our invoice/receipt. Secondly, you will receive confirmation the lodgement has been received by ASIC which may be either a statement that the application has been rejected, is temporarily delayed, is pending an ASIC decision or has been accepted.
Q7. Do I need a company seal?
No. Company seals used to be required by the law but now they are optional. Our Constitutions have been drafted accordingly and under them all directors are able to bind the company by their signature alone.
Q8. What formats are the company documents delivered in?
The documents you receive electronically are PDFs. Should you require assistance with downloading these please do not hesitate to contact us at email@example.com. You will require Adobe Acrobat Reader in order to see them.
Q9. Are the company registration documents legal?
ReckonShelco’s documentation is prepared and reviewed by a minimum of two independent leading law firms, to ensure the latest legislation, cases, practices and investment strategies are incorporated.
Q10. Can you correct a company application that has been created electronically but not yet lodged?
Yes as long as ASIC has not accepted the registration. You would have received an email when you completed your application with the subject line “Company Application Saved [Your Company Name]”. By clicking the link inside this email, you will be forwarded to your application were you can correct any details required before lodgement.
Q11. Can you correct company registration documents that have been created electronically and lodged?
Not directly. As ASIC automatically processes the lodgements into their database the only way to change some of the details is to lodge the prescribed form with ASIC. For example to change a director’s address a form 484 together with the assigned corporate key would be required. A full list of ASIC forms can be found at their website.
Q12. ASIC has rejected my company registration lodgement. How do I find out why and how can I fix it?
The validation procedures built into ASIC’s servers may reject a company registration for a number of reasons. Common examples include incorrect holding company ACNs, typing errors or not including an Australian resident as a Director. If your registration has been rejected you will receive an email with the details of the rejection. You would have received an email when you completed your application with the subject line “Company Application Saved [Your Company Name]”. By clicking the link inside this email, you will be forwarded to your application were you can correct any details required and re-lodge or a ReckonShelco employee will be in touch shortly after to assist. Alternatively if you receive this automated message, please do not hesitate to contact our Support Team at firstname.lastname@example.org.
Q13. How can I pay?
As ASIC requires us to prepay the companies we send to them, we require that all electronic registrations are pre-paid. You are able to pay per transaction by credit card or by direct debit.
For all Reckon Shelco orders with a credit card payment, we guarantee a Secure Internet Payment Service through ANZ. Your credit card details are not stored with us nor viewed by any internal staff members. We accept Visa, Diners, Master Card, Amex.