Congratulations on starting your own company. Now that you have the structure worked out and have registered the company through the Australian Securities and Investments Commission (ASIC) you are probably thinking 'what do I need to do next'? 

Your company and the people within your company will need to satisfy a number of laws, regulations, policies and guidelines. This is known as company compliance.

For a company registered in Australia this means complying with the Corporations Act 2001 (Cth) which is administered by ASIC. Foreign companies registered overseas, Australian public listed companies, unlisted companies and mining companies are also regulated by corporations law.

The main elements of company compliance are:

• keeping up to date using ASIC forms;
• compliance with directors' duties;
• compliance with company secretary duties;
• understanding obligations relating to auditors, financial reports, annual reports and other reporting requirements;
• the maintenance of books, registers and financial records; and
• management of shares and the register of members.

This Legal Guide on Company Compliance provides small proprietary company owners with information about compliance with the Corporations Act 2001 (Cth). Before making important decisions it is advisable to obtain legal advice specific to your situation. LegalEagle’s™ free directory profiles all lawyers in Australia. You can use it to Find a Lawyer near you.

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Warning: Information provided through LegalEagle™ is for general guidance. It is not legal advice. Laws and procedures referred to may change and differ between states, territories and nationally. There may also be important exceptions or qualifications. Only a lawyer providing formal legal advice can assess your particular circumstances to determine how the law will apply.