Can you issue shares for no value?

We are wanting to register a new company where the shares are allotted at a discount. For example, 400 shares with a par value of $2.00 and the total consideration will be $0.00. The shares will be considered fully paid with ASIC.
Is this possible?

Hi - par value went out as a concept in 1998. Can you provide some context of what they are trying to achieve with the share structure?


I’m not sure it’s legally acceptable to have nil consideration paid on shares issued. I looked at this a while back and can’t quite remember where I landed on it. So that’s my first point. Is it legal to have nil consideration?

I don’t quite understand how the shares can be considered fully paid if they are issued at $2 per share and the full $2 per share isn’t paid. As a minimum, I would think they were partly paid shares, with the uppaid portion payable to the company when and if called.
So 400 shares issued at $2 per share, partly paid. In your case it’s unpaid to $2 per share.

Oh I just saw the title of the thread. My reply is, why would you?


If you register the company as suggested, the shares will show as unpaid with ASIC.