Corporations Act 2001
CHAPTER 2H
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SHARES
PART 2H.3
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PARTLY-PAID SHARES
SECTION 254N
CALLS MAY BE LIMITED TO WHEN COMPANY IS EXTERNALLY-ADMINISTERED
254N(1)
A limited company may provide by special resolution that the whole or a part of its unpaid share capital may be called up only if the company becomes a Chapter 5 body corporate.
254N(2)
The company must lodge with ASIC a copy of the special resolution within 14 days after it is passed.
254N(3)
An offence based on subsection (2) is an offence of strict liability.
A limited company may provide by special resolution that the whole or a part of its unpaid share capital may be called up only if the company becomes a Chapter 5 body corporate.
Note: This section does not apply to a CCIV: see section 1230L .
View history note
Hide history note254N(2)
The company must lodge with ASIC a copy of the special resolution within 14 days after it is passed.
[ CCH Note: S 254N(2) will be amended by No 69 of 2020, s 3, Sch 1[565], by substituting " the Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
254N(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 .
[ CCH Note: The next section is s 254P.]
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