Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 165

ASIC may direct a proprietary company to change to a public company in certain circumstances

 
 
(1)
ASIC may direct a proprietary company in
writing to change to a public company within 2 months if it is satisfied that
the company has contravened section 113 (requirements for proprietary
companies).


(2)
The company must comply with the direction within 2 months after
being given it by doing everything necessary to change to a public company
under section 164.


(3)
If a proprietary company does not comply with subsection (2),
ASIC may change the company from a proprietary to a public company by altering
the details of the company's registration to reflect the company's new
type.


(4)
A change of type under this section takes effect when ASIC alters
the details of the company's registration.


(5)
ASIC must give the company a new certificate of registration
after it alters the details of the company's registration under subsection
(3). The company's name is the name specified in the certificate of
registration issued under this section. 
 
 

Note: For the evidentiary value of a certificate of registration,
see subsection 1274(7A).