Section 601BB — Corporations Act 2001 (Cth)

Bodies registered as proprietary companies

(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.

Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.

Related sections

s 601AK — ASIC makes transfer of registration declaration
s 601AL — ASIC to deregister company
s 601BA — Bodies corporate may be registered as certain types of companies
s 601BC — Applying for registration under this Part
s 601BD — ASIC gives body ACN, registers as company and issues certificate
s 601BE — Registered office

Research how courts apply s 601BB

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.

Try BriefBridge free