Register a Proprietary Limited Company. You should refer to Section 117, complete an application form and prepare all relevant consents.
You must have a share register for each class of shares - refer to section 169.
Prepare a constitution; see Section 134 & 135 so that your company's internal management is governed by a combination of replaceable rules and a constitution. The constitution should make a provision for a class of preference shares.
Students may be asked to explain how they completed their assignment.