Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 254N

  (1)   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.

Note:   This section does not apply to a CCIV: see section   1230L.

  (2)   The company must lodge with ASIC a copy of the special resolution within 14 days after it is passed.

  (3)   An offence based on subsection   (2) is an offence of strict liability.

Note:   For strict liability , see section   6.1 of the Criminal Code .