Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 137

137. (1) This section has effect where the Commission grants an application
under this Division.

(2) The Commission shall register the applicant as a company by registering
the application, and shall allot to the company a registration number distinct
from the registration number of each body corporate (other than the company)
already registered under this Part or Part 4.1.

(3) The Commission shall register the applicant as a company of whichever of
the following classes:

   (a)  a company limited by shares;

   (b)  a company limited by guarantee;

   (c)  a company limited both by shares and by guarantee;

   (d)  an unlimited company;

   (e)  in the case of a mining company-a no liability company; most nearly
        corresponds to the class in which the applicant is included under the
        law of its place of origin.

(4) The Commission shall register the applicant as a proprietary company if:

   (a)  it has a share capital;

   (b)  its constitution contains proprietary company provisions; and

   (c)  it is not registered as a no liability company.

(5) Otherwise, the Commission shall register the applicant as a public
company.