AVZ 0.00% 78.0¢ avz minerals limited

Ann: Notice of General Meeting/Proxy Form, page-44

  1. 2,062 Posts.
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    "There are many companies that have shareholders under nominee accounts / that does not imply corruptness."

    I agree with that. But it is certainly easier to get away with corruption (or tax evasion or graft) if your beneficial ownership can be hidden - that I think just logically follows. And there is a trend in the world to make beneficial ownership easier not harder to trace because it is believed that makes corruption and money laundering harder. Though of course people resist it and probably not all of them are corrupt some might just want privacy to avoid being pestered for money or favors.

    I think it is very clear that all reports about the DRC are encouraging the DRC move towards greater transparency and accountability.

    "maybe greater transparancy and flexibility is sought by China in having a SA."

    How would going from a SAS to an SA facilitate that?

    Your link to an SA shows that there are possibly other reasons besides increasing anonymity that might motivate a change - like wanting to float a company - I hadn't seen that. I had searched for SAS and SARL and SA structures and wikipedia was my first education into an SA structure.

    The wikipedia article seems to have been updated since I last read it.
    https://en.wikipedia.org/wiki/S.A._(corporation)

    "S.A. or SA designates a type of public company in certain countries that mostly employ civil law.

    Depending on language, it means anonymous company, anonymous partnership, share company, or joint-stock company, roughly equivalent to public limited company in United Kingdom company law. It is different from partnerships and private limited companies.

    Originally, shareholders could be literally anonymous and collect dividends by surrendering coupons attached to their share certificates. Dividends were therefore paid to whoever held the certificate.

    Share certificates could be transferred privately, and therefore the management of the company would not necessarily know who owned its shares.Like bearer bonds, anonymous unregistered share ownership and dividend collection enabled money laundering, tax evasion, and concealed business transactions in general, so governments passed laws to audit the practice.

    Nowadays, shareholders of S.A.s are not anonymous, though shares can still be held by holding companies in order to obscure the beneficiary."

    I don't recall reading that last sentence last time I accessed wikipedia.

    So perhaps SAs aren't anonymous. But the question remains - why change? What does an SA structure offer Dathomir if not greater anonymity of ownership?

    Bottom line Pasboz is an SA more anonymous or less than an SAS?

 
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