Statute
Section 601BB — Corporations Act 2001: Bodies registered as proprietary companies
Text of the provision Official document
(1) The body must have no more than 50 non-employee shareholders if it is to be registered as a proprietary company under this Part. (2) In applying subsection (1): (a) count joint holders of a particular parcel of shares as 1 person; and (b) an employee shareholder is: (i) a shareholder who is an employee of the body or of a subsidiary of the body; or (ii) a shareholder who was an employee of the body, or of a subsidiary of the body, when they became a shareholder.
Official source: Federal Register of Legislation
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