162Changing company type

#### 162 Changing company type (1) A company may change to a company of a different type as set out in the following table by: (a) passing a special resolution resolving to change its type; and (b) complying with sections 163 and 164. ```html <table cellspacing="0" cellpadding="0" style="border-collapse:collapse"><thead><tr><td colspan="2" style="width:184.4pt; 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-weight:bold">Allowed conversions</span></p></td><td style="width:148.4pt; 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>[operative table]</span></p></td></tr><tr><td style="width:10.5pt; 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></span></p></td><td style="width:163.1pt; 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-weight:bold">This type of company may change…</span></p></td><td style="width:148.4pt; 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-weight:bold">…to this type of company</span></p></td></tr></thead><tbody><tr><td style="width:10.5pt; 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>1</span></p></td><td style="width:163.1pt; 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>proprietary company limited by shares</span></p></td><td style="width:148.4pt; 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>unlimited proprietary company</span></p><p class="Tabletext"><span>unlimited public company</span></p><p class="Tabletext"><span>public company limited by shares</span></p></td></tr><tr><td style="width:10.5pt; 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>2</span></p></td><td style="width:163.1pt; 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>unlimited proprietary company</span></p></td><td style="width:148.4pt; 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>proprietary company limited by shares</span><span style="font-style:italic"> (but only if, within the last 3 years, it was not a limited company that became an unlimited company)</span></p><p class="Tabletext"><span>public company limited by shares </span><span style="font-style:italic">(but only if, within the last 3 years, it was not a limited company that became an unlimited company)</span></p><p class="Tabletext"><span>unlimited public company</span></p></td></tr><tr><td style="width:10.5pt; 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>3</span></p></td><td style="width:163.1pt; 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>public company limited by shares</span></p></td><td style="width:148.4pt; 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>unlimited public company</span></p><p class="Tabletext"><span>unlimited proprietary company</span></p><p class="Tabletext"><span>proprietary company limited by shares</span></p><p class="Tabletext"><span>no liability company (see subsection</span><span> </span><span>(2))</span></p></td></tr><tr><td style="width:10.5pt; 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>4</span></p></td><td style="width:163.1pt; 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>company limited by guarantee</span></p></td><td style="width:148.4pt; 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>public company limited by shares</span></p><p class="Tabletext"><span>unlimited public company</span></p><p class="Tabletext"><span>proprietary company limited by shares</span></p><p class="Tabletext"><span>unlimited proprietary company</span></p></td></tr><tr><td style="width:10.5pt; 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>5</span></p></td><td style="width:163.1pt; 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>unlimited public company</span></p></td><td style="width:148.4pt; 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>public company limited by shares </span><span style="font-style:italic">(but only if, within the last 3 years, it was not a limited company that became an unlimited company)</span></p><p class="Tabletext"><span>proprietary company limited by shares </span><span style="font-style:italic">(but only if, within the last 3 years, it was not a limited company that became an unlimited company)</span></p><p class="Tabletext"><span>unlimited proprietary company</span></p></td></tr><tr><td style="width:10.5pt; 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>6</span></p></td><td style="width:163.1pt; 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>public no liability company</span></p></td><td style="width:148.4pt; 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>public company limited by shares </span><span style="font-style:italic">(but only if all the issued shares are fully paid up)</span></p><p class="Tabletext"><span>proprietary company limited by shares (but only if all the issued shares are fully paid up)</span></p></td></tr></tbody></table> ``` > Note 1: A public company seeking to change to a proprietary company must comply with the requirements for proprietary companies set out in section 113. > Note 2: Other types of companies that were previously allowed can change type under the Part 10.1 transitionals. (2) A public company limited by shares may only convert to a no liability company if: (a) the company’s constitution states that its sole objects are mining purposes; and (b) under the constitution the company has no contractual right to recover calls made on its shares from a shareholder who fails to pay them; and (c) all the company’s issued shares are fully paid up. > Note: Section 9 defines mining purposes and minerals. (3) The company must lodge a copy of the special resolution with ASIC within 14 days after it is passed. (3A) An offence based on subsection (3) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (4) A special resolution to change an unlimited company that has share capital to a company limited by shares may also provide that a specified portion of its uncalled share capital may only be called up if the company becomes a Chapter 5 body corporate.