Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 601BB

Bodies registered as proprietary companies

  (1)   The body must have no more than 50 non - employee shareholders if it is to be registered as a proprietary company under this Part.

  (2)   In applying subsection   (1):

  (a)   count joint holders of a particular parcel of shares as 1   person; and

  (b)   an employee shareholder is:

  (i)   a shareholder who is an employee of the body or of a subsidiary of the body; or

  (ii)   a shareholder who was an employee of the body, or of a subsidiary of the body, when they became a shareholder.


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