Modifications of constitution
601BH Modifications of constitution
A company registered under this Part must modify its constitution within 3 months after registration to give effect to this Part.
If the constitution specifies amounts of money expressed in foreign currency, the company must:
fix a single rate of conversion by resolution; and
modify its constitution by special resolution to convert those amounts into Australian currency using that rate.
The modification must be made within 3 months after registration.
An offence based on subsection (1) or (2) is an offence of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
An amendment of a company’s constitution under this section does not affect the number and class of shares held by each member.
This Act’s bill:Explanatory memorandumSecond reading speech
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