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hi it's grant abbott uh ceo of lightyeardocs i just thought i'd take you through our successor director solution really really quickly so you understand what will happen what i'm going to look at today is how to upgrade a uh existing company to ensure that it has successor director capabilities uh in the lightly docs suite of companies and then also complete a simple resolution for that i just need to go into my document categories so there's two standards first off is if i'll start here i can do an upgrade to a light year dock standard company so that's very easy and that's embedded here in the successor director solution as well you'll see as we go through here i'll just build it really quickly i'm going to put it into my test folder unlike anything and then i'll put test successor director solution and i'll start that the cost is 149 dollars but you can see i'm on unlimited and so it's easier for me to just jump on so i've got the successor director solution i'll go amwa 1 which is abbott morley so let's just go through the process when are we going to set it up let's say we're doing it now tomorrow i'll put in the name of the company um so let's say we'll put it test proprietary limited the acn um the current director's name because this is being an upgrade of a company constitution uh through a resolution by shareholders we need to put in place the shareholders names which we'll get down to a little bit later but let's say we've got john smith is the current director and we're looking at replacing him in the event he gets sick with his brother jim smith so you can do that for you know he can have in fact two or three success directors if he wants and because this is a resolution um obviously john smith is the person who's signing off now if your company hasn't got an existing uh successor director clauses within it generally it's not the case then you'll need to upgrade the constitution as well so by clicking yes i'm upgrading now it can apply for the um you can apply here for a company constitution um it can actually upgrade to our bloodline smsf corporate trustee if you wanted to or just a standard smsf corporate trustee it's just as important to upgrade all corporate trustees we've also got a discretionary trustee company can upgrade to a leading member trustee company or here we're just going to go a standard company upgrade so in there it says in order to complete the blog the corporations act requires all shareholders so let's say in this instance we've got john smith and then we've got his wife sally smith and we're putting it in there so what happens it doesn't why would we bother doing the successor director or what happens if they get divorced and john needs to have his interest looked after i think that's fairly careful it's very prudent so that's our successor director's solution that's how quick and easy it is so i will come the documents they'll then go into your vault automatically let me just show you what it looks like so i've done this for one company here so it's a single company solution so the successor director solution there we go through the constitution upgrade to a standard company so that needs to be done first obviously to make sure that we have that that uh constitution upgrade any other special resolution by the company members to change the constitution as i said before it's under section 136 of the corporations act uh we've got the shareholders and the members they sign off this is the new constitution and you'll see here if we look at appointment of directors in rule 45 so i'll just go down to rule 45 so you can have a quick look of how it's to be done separately um so in rule 45 we're looking at directors and it says there the appointment of directors here 45.5 any director may request the board of directors to put in place a binding resolution that a successor director will take the requesting director's position as a director with full right entitlements and privileges that the position ensues the binding resolution to replace their equip the requesting director uh is to lay out circumstances when the successor director has to replace the requesting director and they include the arrest requesting director and cannot manage the company because of mental capacity comes bankrupt or dies in addition the personal representatives of the trustee of the person may appoint a successful director now if you want to do that you can do that quite separately through our enduring power of attorney this is just a straight successor director's solution then we go down into the successor director itself uh we've got the if we have a look here we've got the uh at asic guidance sheet 73 which deals with the problems about nottingham as successor director and then there's the resolution by the company to appoint a successor director in the event of the director's incapacity or death so we've got the resolution all of this can be signed electronically and then off you're off and running the one thing i would point out is that as i said before in the company section you can find a single one now if you're like me and you are a strategist or a licensee you'll actually be able to go into this strategy automation and you'll find in here we've got the successor director solution so i've got three or four companies so we've got a couple of trustee companies a bucket company we can do all of that through here all in one very easy to use format yeah that will show you the successor director solution from light your docs