VPRS 932 Trading Company Registration Files

This series comprises files relating to the registration of trading companies. Since 1864 all incorporated trading companies have been required under the Companies Act to lodge with the Government evidence of their incorporation, name and any significant practices or changes to the company's organisation.A trading company is essentially an association of persons formed for the conduct of business that assigns shares (usually by sale) to other persons according to the regulations of the company. There are generally two types of trading company:- limited company: the liability of shareholders is limited to the unpaid amount of the nominal value of shares- proprietary company: the number of shareholders is restricted and the company is prohibited from inviting the public to subscribe for shares.The files in custody relate mostly to trading companies that have been deregistered. Additionally holdings relate only to companies that were deregistered prior to the introductions of a microfilming program at Corporate Affairs in 1974.This series has previously been incorrectly titled Defunct Trading Company Files.CONTENTS OF FILESContents of individual files will contain documents such as:- company's memorandum/articles of association- printed copies of company balance sheets and annual reports- copies of special resolutions- notifications of changes of address or directors- notifications of increases in the amount of capital- deregistration documents.FILING PROCESSAn envelope or plastic pouch was created for each company. Each envelope or pouch is controlled by a company number allocated when the company was first registered (see below). Most documents received relating to a particular company were placed in the envelope or pouch for that company. Each document was also sequentially numbered within the envelope upon receipt.INDEXES AND REGISTERSCompany and document numbers were initially allocated from a sequence of bound registers (VPRS 8269). Entries detail the company name and number, some summary detail and for each item received, the document number and a description.Entry into the registers and files were through alphabetical indexes. Two series have been identified to date:- a lexicographical index (ie. in strict alphabetical order) created around 1941 detailing all current registrations at that time (VPRS 8271) and- indexes identifying defunct companies (VPRS 8270).The registers and indexes were replaced in 1958 by a card register system. These cards were destroyed by CAV during 1991 after microfilming.In 1982 a computer control system was introduced which incorporated detail for all trading companies registered up until that time as well as new companies subsequently registered. Two computer generated microfiche indexes were generated for archival use from this system. One of these series (VPRS 8268) relates to defunct registrations and the other (VPRS 8267) covers registrations still current at the end of August 1990. Users should consult the appropriate microfiche index in order to obtain the company registration number.Other Company Record filing sequences in custodyCompany debentures were not stored within the envelopes or pouches of this series. These were controlled by a separate sequential number sequence prefaced by the letter "D" (VPRS 1413). The company number does not appear to have been utilised in this instance. (For further detail refer to series registration for VPRS 1413).Separate filing sequences were also created to deal with the registration of:- Mining companies (period 1871-1958) (VPRS 567) and- Foreign companies (period 1896-1984) (VPRS 934).Files for mining companies registered after 1958 are incorporated within this series.Trading company registration: documents not in custodyIt appears that many documents known as Annual Returns (comprising lists of shareholders and details of paid up capital) were not stored within these files. This practice seems to have been adopted because of the sheer size and/or bulk of these documents for larger companies that prevented storage within envelopes or pouches.Also excluded from the envelopes and pouches, and presumably also for reasons of bulk, were any existing books and papers of the company moved to the agency after liquidation.The 1958 Companies Act included provisions that allowed the Registrar for Companies, with State Library concurrence, to make arrangements for the destruction of:- allotment for shares 2 years after lodging and filing- annual returns/balance sheets 7 years after lodging- documents evidencing a change 7 years after registration of a memorandum of change- any other documents 15 years after lodging.A provision built into this requirement was that all papers relating to defunct companies were to be held for 15 years.It is understood that PRO holdings of trading company registration records are limited to the files, indexes and registers already in custody. It is assumed that all remaining files have been destroyed by the agency in accordance with this Act.Trading company files post 1974In 1974, Corporate Affairs decided to control company registration documents through the application of microfilming. Accordingly it began a program which resulted in the microfilming of:- all files with a trading company registration number greater than 70,000 and- all files relating to registrations current in 1974 with a registration number below 70,000These files were gradually filmed over a two year period. Paper based files continued to be created as new companies were registered until March 1976 when the filming project incorporated the last paper file created (number 115,956).Once a paper file was filmed, any paper documents subsequently received were incorporated into the microfiche company file. All of the original documents were destroyed after filming although a portion of these papers was previously in archival custody. (VPRS 10048 Company Registration and Deregistration Documents).It is understood that the bulk of the paper files in category (a) above to file number 115,956 are in PRO custody whilst most of the file comprising category (b) have been destroyed.Responsibility for the registration of trading companies was transferred to a Commonwealth agency - the Australian Securities Commission - at the start of 1991. All of the microfiche files are currently maintained by that agency.