Bodies corporate may be registered as certain types of companies
601BA Bodies corporate may be registered as certain types of companies
A body corporate that is not a company or corporation sole may be registered under this Act as a company of one of the following types:
a proprietary company limited by shares;
an unlimited proprietary company with share capital;
a public company limited by shares;
a company limited by guarantee;
an unlimited public company with share capital;
a no liability company.
A body corporate may be registered as a no liability company only if:
the body has a share capital; and
the body’s constitution states that its sole objects are mining purposes; and
under the constitution the body has no contractual right to recover calls made on its shares from a member who fails to pay them.
Section 9 defines mining purposes and minerals.
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