(1) A body corporate that is not a company or corporation sole may be registered under this Act as a company of one of the following types:
(a) a proprietary company limited by shares;
(b) an unlimited proprietary company with share capital;
(c) a public company limited by shares;
(d) a company limited by guarantee;
(e) an unlimited public company with share capital;
(f) a no liability company.
(2) A body corporate may be registered as a no liability company only if:
(a) the body has a share capital; and
(b) the body's constitution states that its sole objects are mining purposes; and
(c) under the constitution the body has no contractual right to recover calls made on its shares from a member who fails to pay them.
Note: Section 9 defines mining purposes and minerals .