Document background
The Share Sale and Purchase Agreement (SSPA) is a crucial document used in corporate transactions involving the transfer of company ownership through share sales in Australia. It is typically used when acquiring or divesting whole or partial ownership in a company, whether in private transactions or as part of larger corporate restructuring. The agreement must comply with Australian corporate law, particularly the Corporations Act 2001, and includes essential elements such as purchase price mechanisms, warranties about the company's condition, tax indemnities, and completion procedures. The SSPA is particularly important as it provides legal protection for both parties and creates certainty around the transaction terms. It requires careful consideration of Australian regulatory requirements, including foreign investment rules, competition law, and state-specific stamp duty obligations where applicable.
