Corporations Act 2001

CHAPTER 2B - BASIC FEATURES OF A COMPANY  

PART 2B.6 - NAMES  

Division 1 - Selecting and using a name  

SECTION 150   EXCEPTION TO REQUIREMENT FOR USING " LIMITED " IN NAME  
Name

150(1)    

A company is not required to have the word " Limited " at the end of its name if:

(a)    the company is registered under the Australian Charities and Not-for-profits Commission Act 2012 as the type of entity mentioned in column 1 of item 1 of the table in subsection 25-5(5) of that Act (charity); and

(b)    the company ' s constitution:

(i) prohibits the company paying fees to its directors; and

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

150(2)    

A company that, in accordance with subsection (1) , does not have " Limited " at the end of its name must notify ASIC as soon as practicable if:

(a)    the company ceases to be registered as mentioned in paragraph (1)(a) ; or

(b)    any of the prohibitions or requirements mentioned in paragraph (1)(b) are not complied with or the company ' s constitution is modified to remove any of those prohibitions or requirements.

150(3)    

An offence based on subsection (2) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .

150(4)    

Paragraph 157(1)(a) (company must pass special resolution to change name) does not apply to a change of the name of a company to omit the word " Limited " in accordance with this section.

Name may be stated without " Limited "

150(5)    

If a company:

(a)    has the word " Limited " at the end of its name; but

(b)    under subsection (1) , is not required to do so;

the word " Limited " may be omitted anywhere that the name of the company is required to be used (including on the company ' s common seal).