Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 150

Exception to requirement for using "Limited" in name

 
 
(1)
ASIC may register a company limited by
guarantee without "Limited" in its name, or alter the registration of a
company of that type by omitting "Limited" from its name, if its constitution:
 
 
 
(a)
requires the
company to pursue charitable purposes only and to apply its income in
promoting those purposes; and

(b)
prohibits the company making distributions to its members and
paying fees to its directors; and

(c)
requires the directors to approve all other payments the company
makes to directors. 

 
 
(2)
The company must notify ASIC as soon as
practicable if any of those requirements or prohibitions in its constitution
are not complied with or if its constitution is modified to remove any of
those requirements or prohibitions.