What is one of the actions required at the first directors' meeting under the BCA?

During the first directors' meeting under the Business Corporations Act (BCA), one of the key actions required is to approve the allotment and issuance of additional shares. This step is essential because it establishes the share structure of the corporation, affecting ownership and control. By allocating shares, the directors are formalizing the ownership interests in the company, which is crucial for its ongoing operations and capital structure.

The approval of share allotment is typically necessary even if the shares were originally issued during the incorporation process, as the directors may need to issue additional shares or different classes of shares to accommodate future financing or investors. This decision sets the foundation for how the company will raise capital and engage with shareholders in the future.

While options such as modifying the company’s trade name, electing shareholders, or confirming advisory board members may be relevant for some companies, they are not mandatory actions that need to occur at the first directors’ meeting under the BCA. In contrast, the share issuance solidifies the corporation's capital framework and aligns with legal requirements, making it the correct answer.