The board of XYZ Ltd wants to start a pineapple farming business in Northern Australia. They have the opportunity to buy an existing farm for $4 million near Townsville. They have checked the farm would be able to produce a profit in the next 3 years. They have decided to incorporate a new subsidiary, to be called QA Pineapples Pty Ltd to acquire the property. Required: Explain what steps must be taken to incorporate the new company and to secure the purchase of the farm

The board of XYZ Ltd wants to start a pineapple farming business in Northern Australia. They have the opportunity to buy an existing farm for $4 million near Townsville. They have checked the farm would be able to produce a profit in the next 3 years. They have decided to incorporate a new subsidiary, to be called QA Pineapples Pty Ltd to acquire the property. Required: Explain what steps must be taken to Incorporate the new company and to secure the purchase of the farm