Need to know how I structure things correctly re; my businesses…

<p>Need to know how I structure things correctly re; my businesses so we comply with ASIC. I have 3 different business entities trading in the same industry - security. they have different abn numbers. Entity A is an old entity that is soley servicing/looking after an existing client base of monitored security clients. There are three shareholders on this entity and one of them (MrZ) is the director. each shareholder has actively been working in entity A until August last year when two of the shareholders advised we do not wish to work with the 3rd shareholder any further (call him Mr X). </p><p>Entity B is in the same industry but services guard work. The same 3 shareholders are on this entity. MrX is the Director of this entity. We agreed that Mr X take on the directorship of Entity B and all of the income and we (being the other shareholders) would take on running Entity A, servicing the existing client base. We agreed to still pay out a 3rd of the monitoring income to Mr X from these existing clients after running expenses. </p><p>Entity C was started up by the other two shareholders to put any NEW business through and keep this totally seperate from Entity A. Mr X is totally aware of this. The director of this entity is (MrZ) What key points do I need to address to ensure we comply with ASIC? We ideally would like to buy MrX out of entity A and we run both A & C and he can have entity B (guards) . I really need a good understanding of what options we have and how to structure this correctly.</p>