Section 254N — Corporations Act 2001: 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.