Document ID: chunk:federal_register_of_legislation:C2004A03722:body:0:p6
Version: federal_register_of_legislation:C2004A03722
Segment Type: other
Provision Reference: 
Character Range: 13923–16609

(c) lodge with the National Companies and Securities Commission a proposed memorandum, and proposed articles, for OTC.
"(2) The application mentioned in paragraph (1) (a) shall, subject to the regulations, be accompanied by the documents required by subsection 85 (4) of the Companies Act 1981 to accompany such an application.
"(3) The applications mentioned in paragraphs (1) (a) and (b) shall be made to the National Companies and Securities Commission by delivering them to the office of the Corporate Affairs Commission for the Australian Capital Territory, and the documents mentioned in paragraph (1) (c) and

subsection (2) shall be lodged with the National Companies and Securities Commission by lodging them at that office.
"(4) OTC shall be taken to be entitled to make the applications referred to in paragraphs (1) (a) and (b), and to lodge the documents mentioned in paragraph (1) (c) and subsection (2).
"(5) The National Companies and Securities Commission shall be taken:
     (a) to have been required to reserve the name 'OTC Limited' under subsection 55 (2) of the Companies Act 1981; and
     (b) to have so reserved that name immediately after the making of the application mentioned in paragraph (1) (b).

New name of OTC
"54d. (1) On the day immediately before the transition, OTC's name is, by force of this subsection, changed to 'OTC Limited'.
"(2) Subsection 65 (5) of the Companies Act 1981 applies in relation to the change of name made by subsection (1) as if:
     (a) OTC were a company, within the meaning of that Act, when the change was made; and
     (b) the change were made under that Act.
"(3) This section has effect in spite of anything in the Companies Act 1981, but nothing in this section prevents:
     (a) OTC from later changing its name under section 65 of that Act; or
     (b) the cancellation, under Division 2 of Part III of that Act, of the registration of a name.".
11. Before Part III of the Principal Act the following Part is inserted:

"PART IIb—CONVERSION OF OTC INTO PUBLIC COMPANY

OTC taken to be registered under Companies Act
"54e. (1) The National Companies and Securities Commission shall be taken:
     (a) to have been required to grant the application mentioned in paragraph 54c (1) (a) and to register OTC as a company under subsection 86 (2) of the Companies Act 1981;
     (b) to have granted the application at the commencement of this Part;
     (c) to have so registered OTC, at the commencement of this Part:
         (i) by the name 'OTC Limited'; and
         (ii) in accordance with subsections 86 (3) and (4) of that Act, as a public company, and as a company limited by shares, within the meaning of that