CORPORATIONS ACT 2001 - SECT 254N Calls may be limited to when company is externally - administered
CORPORATIONS ACT 2001 - SECT 254N
Calls may be limited to when company is externally - administered(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 .