112Types of companies

112 Types of companies

Types of companies (1) The following types of companies can be registered under this Act:

Note 1: Other types of companies that were previously allowed continue to exist under the Part 10.1 transitionals.

Note 2: For corporate collective investment vehicles, see Chapter 8B.

No liability companies (2) A company may be registered as a no liability company only if: (a) the company has a share capital; and (b) the company’s constitution states that its sole objects are mining purposes; and (c) the company has no contractual right under its constitution to recover calls made on its shares from a shareholder who fails to pay them.

Note 1: Section 9 defines mining purposes and minerals.

Note 2: Special provisions on no liability companies are found in the provisions referred to in the following table:

<table cellspacing="0" cellpadding="0" style="margin-left:99.25pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:244.3pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:9pt; font-weight:bold">No liability company provisions</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:9pt; font-weight:bold">item</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:9pt; font-weight:bold">topic</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:9pt; font-weight:bold">provisions</span></p></td></tr></thead><tbody><tr><td style="width:17.55pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">1</span></p></td><td style="width:130.95pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">names</span></p></td><td style="width:74.2pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">148, 156, 162</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">2</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">terms of issue of shares</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">254B</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">3</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">liability on partly</span><span style="font-size:9pt">‑</span><span style="font-size:9pt">paid shares</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">254M</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">4</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">calls</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">254P</span><span style="font-size:9pt">‑</span><span style="font-size:9pt">254R</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">5</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">winding up</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">477</span><span style="font-size:9pt">‑</span><span style="font-size:9pt">478, 483, 514</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">6</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">registering a body as a company</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">601BA</span></p></td></tr><tr><td style="width:17.55pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">7</span></p></td><td style="width:130.95pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">transitional</span></p></td><td style="width:74.2pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:9pt">the Part</span><span style="font-size:9pt"> </span><span style="font-size:9pt">10.1 transitionals</span></p></td></tr></tbody></table>