Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 123

123. (1) Subject to this Act, on and from the day specified in a certificate
under section 121 as the day of commencement of a company's registration under
this Division, the subscribers to the company's memorandum, together with such
other persons as from time to time become members of the company, are an
incorporated company by the name stated in the memorandum.

(2) A company registered under this Division:

   (a)  is capable of performing all the functions of a body corporate;

   (b)  is capable of suing and being sued;

   (c)  has perpetual succession;

   (d)  shall have a common seal; and

   (e)  has power to acquire, hold and dispose of property.