Commonwealth Numbered Acts

COMPANIES ACT 1981 No. 89 of 1981 - SECT 55

55. (1) A foreign company that proposes to transfer its incorporation to the
Territory may apply in the prescribed form to the Commission for the
reservation in the Territory of a name set out in the application as the name
by which the foreign company intends to be registered upon transfer of its
incorporation pursuant to Division 4.

(2) Subject to sub-section (3), if-

   (a)  the Commission is satisfied that an application made under sub-section
        (1) for the reservation of a name is made in good faith; and

   (b)  the name is available for reservation in the Territory, the Commission
        shall reserve the name for a period of 2 months from the date of
        lodgment of the application, and, where the Commission so reserves the
        name, the name shall be deemed to have been reserved from that date.

(3) Where-

   (a)  an application is made under sub-section (1) for the reservation of a
        name;

   (b)  the application states that the name of the foreign company is
        registered in a participating State or participating Territory; and

   (c)  the name in respect of which the application is made is not available
        for reservation in that State or Territory, the Commission shall not
        reserve the name.

(4) Where-

   (a)  a name is reserved under this section in respect of a foreign company;
        and

   (b)  the foreign company is registered by that name as a company pursuant
        to Division 4, the Commission shall register the name of the company
        in the Territory and, where the Commission so registers the name-

   (c)  the name ceases to be reserved under this section; and

   (d)  if a registration of that name in respect of that foreign company is
        in force under any other provision of this Division, the Commission
        shall cancel that last-mentioned registration.

(5) Where a name has been reserved under sub-section (2) in respect of a
foreign company and-

   (a)  the name was not available for reservation in the Territory or in a
        State or Territory specified in the application for reservation as
        mentioned in paragraph (3) (b); or

   (b)  the foreign company notifies the Commission in writing that it no
        longer desires the name to be reserved, the Commission shall cancel
        the reservation of the name.

(6) The reservation of a name under this section in respect of a foreign
company does not of itself entitle the foreign company to be registered
pursuant to Division 4 by that name.

(7) The registration of a name under this section remains in force until the
registration is cancelled by the Commission.

(8) Notwithstanding anything in paragraph 38 (1) (a), a name shall not be
taken, for the purposes of this section, not to be available for reservation
in the Territory or in a State or another Territory by reason only that the
name is already reserved or registered under this Division or under the
provisions of a law of the State or Territory that correspond with this
Division, as the case may be, in respect of the foreign company that has
applied for the reservation of the name under this section.