THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 5B - BODIES CORPORATE REGISTERED AS COMPANIES, AND REGISTRABLE BODIES
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Hide history notePART 5B.1 - REGISTERING A BODY CORPORATE AS A COMPANY
Division 1 - Registration
SECTION 601BB BODIES REGISTERED AS PROPRIETARY COMPANIES 601BB(1) [Non-employee shareholder limit] The body must have no more than 50 non-employee shareholders if it is to be registered as a proprietary company under this Part. 601BB(2) [Application] In applying subsection (1): (a) count joint holders of a particular parcel of shares as 1 person; and (b) an employee shareholder is:(i) a shareholder who is an employee of the body or of a subsidiary of the body; or
(ii) a shareholder who was an employee of the body, or of a subsidiary of the body, when they became a shareholder.
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