Western Australian Consolidated Acts Western Australian Consolidated Acts Any 5 or more persons
or, where the company to be formed will be a proprietary company within the
meaning of section 37, any 2 or more persons associated for any lawful
purpose may, by subscribing their names to a memorandum of association and
otherwise complying with the requirements of this Act in respect of
registration, form an incorporated company, with or without limited liability,
or, in the case of a company formed for mining purposes, with no liability,
that is to say —
(a) a
company having the liability of its members limited by the memorandum to the
amount (if any) unpaid on the shares respectively held by them, or a no
liability company within the meaning of this Act (each of which companies,
except where no liability companies are expressly excluded, in this Act
included in the term a company limited by shares ); or
(b) a
company not having any limit on the liability of its members (in this Act
termed an unlimited company ).