Document ID: chunk:federal_register_of_legislation:C2025C00185:section:254n
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 254N
Character Range: 875259–875824

254N  Calls may be limited to when company is externally‑administered
 (1) A limited company may provide by special resolution that the whole or a part of its unpaid share capital may be called up only if the company becomes a Chapter 5 body corporate.
Note: This section does not apply to a CCIV: see section 1230L.
 (2) The company must lodge with ASIC a copy of the special resolution within 14 days after it is passed.
 (3) An offence based on subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.