Western Australian Consolidated Acts Western Australian Consolidated Acts (1) In the case of a
no liability company —
(a) The
memorandum shall state —
(i)
the name of the company, with “No liability”
as the last words in its name;
(ii)
the objects of the company;
(iii)
that the members take no liability;
(iv)
the amount of the share capital with which the company
proposes to be registered, and the division thereof into shares of a fixed
amount;
(v)
the full names, addresses and occupations of the
subscribers of the memorandum.
(b) No
subscriber of the memorandum may take less than one share.
(c) Each
subscriber shall write opposite to his name the number of shares he takes and
that he is 21 years of age or over.
(2) No person under
the age of 21 years shall subscribe to a memorandum.
(3) The objects and
powers of a no liability company, whether express or implied, shall be limited
to mining purposes, and to treating, selling or otherwise disposing of ores,
metals, minerals, and all products of mining, and to powers necessary for or
incidental or conducive to carrying on such purposes, businesses, or
operations.
(4) No company shall
be registered as a no liability company until it is proved to the Registrar by
statutory declaration and such other evidence as he shall require that 5% of
the nominal capital of the company has been paid up and lodged to the credit
of a trustee for the company in a bank approved by the Registrar.