(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 .