Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p30
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 72844–75456

and, without limiting the generality of the foregoing, has power—
     (a) to issue and allot fully or partly paid shares in the company;
     (b) to issue debentures of the company;
     (c) to distribute any of the property of the company among the members, in kind or otherwise;
     (d) to give security by charging uncalled capital;
     (e) to grant a floating charge on property of the company;

     (f) to procure the company to be registered or recognized as a body corporate in any place outside the Territory; and
     (g) to do any other act that it is authorized to do by any other law.
"(2) The memorandum or articles of a company may restrict or prohibit the exercise by the company of any of the powers referred to in sub-section (1).
"(3) A company has the capacity to exercise its powers in a place outside the Territory.
"(4) Nothing in this section affects the operation of any restriction on, or prohibition of, the exercise by a company of any of its powers, being a restriction or prohibition included in the memorandum or articles of the company before the commencement of section 34 of the Companies and Securities Legislation (Miscellaneous Amendments) Act 1983.

Restrictions on companies
"68. (1) Subject to this Act, a company shall not—
     (a) exercise any power that the company is prohibited, by the memorandum or articles of the company, from exercising;
     (b) exercise any power contrary to a restriction on the exercise of that power contained in the memorandum or articles of the company; or
     (c) where the memorandum of the company contains a provision stating the objects of the company—do any act otherwise than in pursuance of those objects.
"(2) An officer of a company shall not be in any way, by act or omission, directly or indirectly, knowingly concerned in or party to a contravention by the company of sub-section (1).
"(3) Notwithstanding section 570—
     (a) a company that contravenes sub-section (1); or
     (b) an officer of a company who contravenes sub-section (2),
is not guilty of an offence against this section.
"(4) An act of a company, including the making of an agreement by a company and a transfer of property to or by a company, is not invalid by reason only that the doing of the act is prohibited by sub-section (1) or by the memorandum or articles of the company.
"(5) An act of an officer of a company is not invalid by reason only that the doing of the act is prohibited by sub-section (2).
"(6) The fact that—
     (a) the doing of an act by a company was or would be prohibited by sub-section (1) or by the memorandum or articles