Annual Registration Checklist: Fill & Download for Free

Approximately $1 million and a checklist of 270 steps to deal with in order to get your ETF out of the ground. And about the million I will be explaining whyETFs are like LEGO structures: you can use these structures anyway you want to build your toy. And by that I mean two things: a) The way ETFs are structured vary from one ETF to another; b) You have multiple choices at each building stage, which allows you to choose which better way works best for you. For example to start with, you could choose between applying for all of the licenses “the Exemptive Relief” and having them registered in the name of your RIA (Registered Investment Advisor), or decide that you don’t want to bother with all of this paperwork and just hire the services of a white label issuer who has already all of these licenses and can help you launch your ETF for an upfront fee and a cut of the future revenues of your crypto fund.ETFs have become a very popular fund structure, nonetheless, the structure remains a rather pricey one. The fund structure includes a number of third parties who require to be paid for their services. One way or the other you will need to fork approximately $240,000 per year to maintain the necessary legal structure for the ETF. This includes the fund creation setup charges such as the drafting of the initial prospectus, the EDGAR filings, the creation of a website. Then you have the fixed annual fees for the services of a compliance officer, the principal financial officer, independent audit & tax fees, independent legal counsel, shareholder reports & printing, the SEC required annual registration statement and the miscellaneous fund expenses. To that, you can add variable annual expenses for the fund administration, accounting, and transfer agent services. Then you have the custody services. Hiring an Investment Advisor, without forgetting having a medallion fund distributor. The good news is that the annual management fee that you would be charging helps you pay for these expenses. Suppose your management fee is 0.60% p.a., you reach the break-even point once the fund has accumulated over $40 million in assets.Now don’t expect your ETF idea to become an overnight success: you are about 18-years late for that. So you need to have sufficient cash to pay for this structure over the next 3-years.So far we were discussing just for the fund structure to exist or its maintenance. We haven’t really discussed the most important: your marketing plan and budget,…!

It sounds like your handbrake doesn’t even work.I know my grandfather drives his car (a Holden VZ Commodore V6) around & the handbrake barely even works, it has the same Banksia type of handbrake shoe that my car has but mine is the model before his (VY Commodore SS V8) but the V6 & V8 engine has nothing do do with what we’re talking about here.His is a 15 year old 430,000+ kilometre car which likely has the original handbrake shoes fitted & they’re stuffed,mine is an over 360,600 kilometre old car but I’ve replaced the brake rotors a few times,I got the the front pair machined last week & I fitted a new set of front brake pads,I replaced the rear pads 4–5 years ago,I also replaced the handbrake shoes back in 2018 & I tend to have to adjust them annually.Now, he gets his registration inspection done at my local town which is 11 kilometres away from me & they pass it without a working handbrake,now I don’t feel right going to that sort of mechanic to get a registration inspection done on my car & I always feel like I push their noses out of joint or throw a spanner in the works there,I never feel welcome at their premises.Yet I’ll drive over to another company which is 22 kilometres away from where I live,since it’s a franchise arrangement they have to follow their protocol which includes a checklist of items to check but if I went to the the same named franchise at my local town 11 kilometres away I will tend to irritate the person who runs that one.My point is that my handbrake actually works yet if I get the franchise which is 22 kilometres away to do it & I am like my grandfather they would fail it on the annual registration inspection,mine is an 18 year old car which is in better condition than his.If you put the handbrake on in mine & try to drive car you’ll know about it,you can’t because both wheels would be locked up !

CHECKLIST FOR FORMATION OF SECTION 8 COMPANYIntroductionIn India, there are following 3 legal forms exist for an NGO or Non-ProfitOrganizations:1. Trusts2. Societies3. Section 8 CompaniesIndian Trusts have no central law; Indian Societies have different legal andinstitutional frameworks from state to state while Section 8 companies have oneuniform law across the country – Companies Act, 2013. It is this robust Act thatregulates the formation, management and accountability of a Section 8 Company,thus making it more closely regulated and monitored than trusts and societies, andrecognized all over the world.A Non-profit Company or Section 8 Company is a Company which:• Has in its objects the promotion of commerce, art, science, sports, education,research, social welfare, religion, charity, protection of environment or any suchother object;• Intends to apply its profits, if any, or other income in promoting its objects; and• Intends to prohibit the payment of any dividend to its members.Procedure Procedure for Incorporation of Section 8 Company underCompanies Act, 20131. Application for name availability in form RUNApplication for name availability must be made in “Reserve Unique Name” facility. The name of Section 8 Company shall include the words Foundation, Forum, Association, Federation, Chambers, Confederation, Council, Electoral Trust, and the like etc.You can propose maximum 2 names at a time and 1 resubmission is allowed in RUN facility. Fees for RUN is Rs. 1000/-. It is advisable to attach the object clause of the proposed company.2. Preparation of Memorandum of Association and Articles of Association Memorandum of association is the charter of the company and defines the scope of its activities. An article of association of the company is a document which regulates the internal management of the company. Memorandum of Association of Section 8 Company must be in form INC-13 while there is no format prescribed for Articles of Association for Section 8 Company. One can adopt table F provisions. Memorandum and articles of association of the company shall be signed by each subscriber to the memorandum who shall mention his name, address, description and occupation, if any, in the presence of at least one witness who shall attest the signature and shall likewise sign and add his name, address, description and occupation.3. Application in Form INC-12After approval of name by CRC, one can make an application in Form INC-12 to the Registrar for a license under sub-section (1) of section 8. Fees for INC-12 is Rs.2,000/-Attachment of INC-121. Memorandum of Association in Form INC-13;2. Articles of Association; (No Specified format)3. Declaration in Form INC-14 by CS/CA/CWA in practice, that the draft memorandum and articles of association have been drawn up in conformity with the provisions of section 8 and rules made thereunder and that all the requirements of the Act and the rules made thereunder relating to registration of the company under section 8 and matters incidental or supplemental thereto have been complied with;4. Declaration by each of the persons making the application in Form INC-15;5. An estimate of the future annual income and expenditure of the company for next three years, specifying the sources of the income and the objects of the expenditure;6. Name Approval Letter received from CRC; These are compulsory attachment of form INC-12. It is advisable to attach note on work proposed to be undertaken by the Company after incorporation and Grounds of application for issue of license under section 8. Once the form INC-12 will be approved, License under section 8 will be issued in Form INC-16 which required to be attached in form SPICe.4. Filing of SPICe 32 FormAfter receiving Central Government approval i.e approval of form INC-12, one may go ahead with filing of form SPICe 32.Attachment of SPICe 32:1. Memorandum of Association in Form INC-13;2. Articles of Association; (No Specified format)3. Consent and Declaration by first Directors in form DIR-2;4. Affidavit by first subscriber in form INC-9;5. PAN card of first directors and subscribers;6. Aaadhar card of first directors and subscribers;7. Proof of Registered office like Sale Deed/Lease Deed/Rent Agreement etc;8. Latest Utility Bill of Registered office like Electricity Bill;9. NOC of owner/director if registered office is taken on rent/lease;10. License issued in form INC-16;Benefits of Section 8 Company Registration:• Exemption from Stamp Duty.• Tax deductions to the donors of the Company u/s. 80G of the Income Tax Act.• Section 8 Companies can be formed with or without share capital, in case theyare formed without capital, the necessary funds for carrying the business arebrought in form of donations, subscriptions from members and general public.• Section 8 Companies are not required to add the suffix Limited or PrivateLimited at the end of their name.• A Section 8 Company has more credibility as compared to any other Non-profitorganization structure like Trust or Society.