(1) ASIC may change a company's name so that it includes the word "Limited" by altering the details of the company's registration to reflect the change if:
(a) the company contravenes any of the requirements or prohibitions in its constitution referred to in subsection 150(1); or
(b) the company modifies its constitution to remove any of those requirements or prohibitions; or
(c) ASIC revokes a licence referred to in section 151 that applies to the company.
(2) The change of name takes effect when ASIC alters the details of the company's registration.