In Australia most companies are now incorporated under the Corporations Act, 2001 (“The Act“)
Section 112 of the Act provides for the incorporation of the following 6 types of Companies.
|Proprietary companies||1) Limited by shares|
|2) Unlimited with share capital|
|Public companies||3) Limited by shares|
|4) Limited by guarantee|
|5) Unlimited with share capital|
|6) No liability company|
No Liability Companies can only be registered in certain circumstances for mining purposes.
Section 148 of the Act provides that when a company is registered its name must include:
- “Limited” (or an approved abbreviation) if is a limited company.
- “Proprietary” (or an approved abbreviation) if it is a Proprietary Company
- “No Liability” (or an approved abbreviation) if it is a No Liability Company.
Section 148 also provides that a Public Company must not include in its name “Proprietary” ( but excepts from that exclusion Public Companies that had “Proprietary” as part of its name before 1 July 1998).
Section 149, allows for the following approved abbreviations.
So that a proprietary limited company may be registered with the names
- XYZ Pty Ltd
- XYZ Proprietary Ltd
- XYZ Pty Limited; or
- XYZ Proprietary Limited
A proprietary company that is unlimitedmay be registered with the names
- XYZ Pty; or
- XYZ Proprietary
A public limited company may be registered with the names
- XYZ Limited; or
- XYZ Ltd
A public no liability company may be registered with the names
- XYZ NL ; or
- XYZ No Liability
In all cases, the correct name of the company, is the name it is registered with. For example
- A company registered with the name “ABC Pty Ltd” should only be called that “ABC Pty Ltd”.
- A company registered with the name “DEF Proprietary Limited”, should not be called “DEF Pty Ltd”, as that is not its registered name.