Any account owned by two or more people.
The ownership of land by two or more persons collectively. On the death of one, the ownership passes to that person’s survivor or survivors, as distinct from a tenancy in common. A joint tenant is one of the co-owners and is not a ‘tenant’ in the sense of ‘lessee’.
A business arrangement between two or more parties (such as companies or countries) to achieve a mutual objective. All parties have partial control. It is a common way for companies to collaborate on a project(s) without engaging in a full-scale merger. A joint venture is similar to a partnership except that it is not necessarily a continuing one.
A type if agreement that establishes the responsibility for selling the securities in an an underwriting. members of an underwriting group agree to buy a certain amount of the new issue and to share liability for the obligations of the other members of the group.
The subsequent effects on unrelated parties of the failure of a transaction to settle in CHESS.
Lapse refers to the removal of shares from the register as a result of an Investor not fulfilling their obligation with respect to the shares. Examples include the exercise of options, where the Investor decides not to do the exercise. The shares left over after all option exercise processing is complete would lapse.
Authority granted by a court to a person to wind up the estate of a deceased person who did not leave a valid will.
The right to hold property belonging to another person as security for the payment of some debt, or the performance of some obligation. For example, the right of the broker over shares until a buying client has paid for them.
The principle that the liability of shareholders for debts of a corporation or limited company is limited to the nominal value of their shares. In other words, their personal assets are not at risk if the company becomes insolvent and is liquidated.
The winding up of a company by a liquidator. The company’s assets are converted into cash and paid to creditors and, if there is any surplus after that, to Investors. The process is akin to the administration of a deceased estate and to bankruptcy, however, a company may not be declared bankrupt under the Bankruptcy Act, but must be wound up in accordance with the Corporations Law.
Most liquidations are compulsory and relate to insolvent situations. However, liquidations can also be voluntary and represent a reorganisation of a group structure. Defunct companies with no assets or liabilities can be struck off without being formally liquidated.
A person appointed, usually by a court, to conduct the winding up of a company and the liquidation of its assets.
A company whose securities have been admitted to the stock exchange.
Approved securities for admission to the Official List and for trading on the Stock Exchange. Listed securities are usually more liquid than unlisted ones owing to the existence of the exchange. Also known as Listed Securities or Tradeable Securities.
The date that an Issuer lists on the stock exchange, where their shares are available to be bought and sold by the general public.
A class of security which is tradeable on the Australian Stock Exchange.
The act of lodging or process of being lodged.