You are the company secretary for ABC Mining No Liability, a company registered in Australia. You have found this share certificate template online (image below), but you realise that it does not comply with the Corporations Act 2001, if your company intends to issue partly paid shares. Explain why the company is required to issue a share certificate and why this one is defective. Instructions: write your answer in the space provided. Use ILAC as appropriate. Share Certificate: ABC Mining No Liability A company registered in Australia under the Corporations Act 2001 CERTIFICATE NUMBER....... NUMBER OF SHARES THIS IS TO CERTIFY THAT IS/ARE THE REGISTERED HOLDER/S OF..........SHARES OF..........EACH FULLY PAID IN THE ABOVE-NAMED COMPANY, SUBJECT TO THE CONSTITUTION This certificate is given under the common seal of or executed for and on behalf of the company This.... ...day of...in the year 2..... DIRECTOR DIRECTOR SECRETARY/WITNESS