Corporations Act 2001
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.
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, by substituting " the Registrar " for " ASIC " , (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
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.]