CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 383 Omission of ''Limited'' in names of charitable and other companies

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 383

383. (1) Where the Commission is satisfied that a proposed limited company:

   (a)  is being formed for the purpose of providing recreation or amusement
        or promoting commerce, industry, art, science, religion, charity,
        patriotism, pension or superannuation schemes or any other object
        useful to the community;

   (b)  will apply its profits (if any) or other income in promoting its
        objects; and

   (c)  will prohibit the payment of any dividend to its members; the
        Commission may (after requiring, if it thinks fit, the proposal to be
        advertised in such manner as it directs either generally or in a
        particular case), by licence, authorise the proposed company to be
        incorporated as a
company with limited liability without the addition of the word "Limited" to
its name.

(2) Where the Commission is satisfied:

   (a)  that the objects of a limited company are restricted to those
        specified in paragraph (1) (a) and to objects incidental or conducive
        to those so specified; and

   (b)  that by its memorandum or articles the company is required to apply
        its profits (if any) or other income in promoting its objects and is
        prohibited from paying any dividend to its members; the Commission
        may, by licence, authorise the company to change its name to a name
        approved by the Commission
that does not contain the word "Limited".

(3) A licence may be issued on such conditions as the Commission thinks fit.

(4) Any conditions on which a licence is so issued are binding on the company
and shall, if the Commission so directs, be inserted in the memorandum or
articles, which may, by special resolution, be altered to give effect to any
such direction.

(5) A company in respect of which a licence is in force is exempt from
complying with the provisions of this Act relating to the use of the word

"Limited" as part of its name.

(6) Subject to subsection (7), a licence may be revoked by the Commission and,
where a licence is so revoked:

   (a)  the name of the company shall be deemed to be altered by the addition
of the word "Limited" at the end of the name; and

   (b)  the company no longer enjoys the exemptions and privileges granted,
        because of the licence, by or under this Act.

(7) Before a licence is revoked, the Commission shall give to the company
notice in writing of the Commission's intention to revoke the licence and
shall give the company an opportunity to appear at a hearing before the
Commission and make submissions and give evidence in relation to the matter.

(8) Where a licence is revoked, a provision of the memorandum that was
inserted in compliance with a condition on which the licence was issued may be
altered in the same manner as a provision of that memorandum with respect to
the objects of the company may be altered, and section 172 applies to a
proposal for such an alteration accordingly.

(9) Where a licence is in force in respect of a company, an alteration of the
memorandum or articles, other than an alteration consisting solely of a change
of the name of the company, does not have any effect unless:

   (a)  a statement setting out the text of the alteration or proposed
        alteration has been lodged and the alteration or proposed alteration
        has been approved by the Commission; and

   (b)  the alteration is made in accordance with the articles and the
        provisions of this Act.

(10) Where an alteration or proposed alteration of the memorandum or articles
of a company, other than an alteration consisting solely of a change of the
name of the company, is approved as mentioned in paragraph (9) (a) and the
alteration is made as mentioned in paragraph (9) (b), the alteration has
effect notwithstanding a failure to obtain any consent or approval required to
be obtained by virtue of a provision contained in the licence or a provision
inserted in the memorandum or articles for the purposes of subsection (3) or a
corresponding law.

(11) Where:

   (a)  a company of a State or Territory is registered as a company under
        Division 2 of Part 2.2; and

   (b)  a licence under a law corresponding to this section was in force in
        respect of that company immediately before its registration day; that
        licence continues in force, subject to this section, as if it had been
        granted by the Commission under this section.