Section 120 — Corporations Act 2001 (Cth)

(1) A person becomes a member, director or company secretary of a company on registration if the person is specified in the application with their consent as a proposed member, director or company secretary of the company.

Note: For the equivalent provision for a CCIV, see section 1222D.

(2) The shares to be taken up by the members as specified in the application are taken to be issued to the members on registration of the company.

Note: A member’s name must be entered in the register of members (see section 169).

Related sections

• s 118 — ASIC gives company ACN, registers company and issues certificate
• s 119 — Company comes into existence on registration
• s 119A — Jurisdiction of incorporation and jurisdiction of registration
• s 121 — Registered office
• s 122 — Expenses incurred in promoting and setting up company
• s 123 — Company may have common seal

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