Modern Company Seal StampBelow is a brief overview of a selection of countries around the world and legal requirements regarding the use of a corporate label (Corporate Seal). AustraliaUnder The Company Law Review Act 1988 is no longer mandatory a company label. However, for companies created before that date, the company`s statutes may prescribe the use of a company label. A business seal may continue to be used and must contain the Australian company number as well as the full name of the company`s law. The NFA is a nine-digit number preceded by either the words Australian Company Number, a.C.N. or ACN, as well as the number. Section 127 (2) of Australian law requires the use of a corporate label and how to apply it to the law. BahamasA Company Seal is required under section 26 of the Companies Act. Proof of the label must be provided at the presentation of the first annual profit and loss account.
BarbadosConserating Section 25 of the Companies Act, a company must have engraved a common seal (corporate seal) bearing its name. CanadaA corporate label is not a legal requirement. ChinaA company label is prescribed by law and must be manufactured by a company with a special Shanghai Permit. CroatiaA company label is required by law and must be used on all official documents. GreeceA company seal or common seal is a requirement of the law and must contain the company`s tax identification number. Hong KongA corporate or corporate stamp and stamp are required by law. Ensure that the appropriate persons witness the seal attachment, if it is necessary or appropriate to conduct an ASIC search to determine the ability of those who witness the seal attachment. To learn more about the company`s labels, you can publish your needs or publish your work on the UpCounsel website. UpCounsel`s lawyers give you a better overview of company labels and whether they would be useful to your business. In addition, they help you if you need help with designing a legal seal that will allow you to get documents. Important documents that require a corporate seal are: the corporate seal can only be used with the permission of the business leaders or the designated committee. When a corporate seal is sealed for a document, a director`s signature may be required with the opposite sign of another director, a company secretary or a person appointed by the committee.
One of the first mandates of such a meeting would be the issuance of shares in the case of a capital company or the issuance of affiliations in the case of LLCs. In addition, corporate labels can be used for share transfers or membership. This is a critical step, as the Director`s decisions and certificates prove that such documents are officially available. Do not use this enforcement block outside of Australia or if the laws of another country can enforce. This enforcement block was designed only for use in Australia and for agreements subject to Australian law. If the law of the agreement is that of another jurisdiction and/or the agreement is to be enforced outside Australia, specialized advice should be obtained. The reasons for this particular treatment of sealed contracts can be included in the legal formalities related to the waterproofing of a document with a wax seal. First, the legal formality of putting a seal on a document was evidence of a contract. Second, the need to use a label – widely recognized as legally important – has helped to give the parties the importance of the agreement.