Ann: SER Business Review 2011 , page-30

As someone pointed out earlier, Mega now has an ABN for itself and is listed as an Australian Pty Ltd. (Private Company).

Australian Proprietary Company
A proprietary company must:

be limited by shares or be an unlimited company with a share capital
have no more than 50 non-employee shareholders
not do anything that would require lodgement of a prospectus

Therefore, shares in a private company are usually transferred by private agreement between the seller and the buyer, as shares in a private company may not by law be offered to the general public.

Thoughts?