Members' liabilities are generally limited to outstanding subscriptions and other charges. Owning The company itself can own property. Property can only be held by the Proprietors. The association itself can own property. The company can sue and be sued.
Proprietors have to sue, and be sued only in their own names.
The association can sue and be sued. These are bodies not registered under the Corporations Law. Examples include Trading Co-operatives and Incorporated Associations. Registrable Australian Bodies do not include foreign companies. This is a new number for business dealings with the ATO and in future, with government agencies at all levels.