Proprietary limited company
Encyclopedia : P : PR : PRO : Proprietary limited company
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| Business law |
|---|
| Business organizations |
| Common law business forms: |
| Sole proprietorship |
| Partnership · Corporation |
| General partnership |
| Business trust |
| Statutory business forms: |
| Limited partnership |
| Proprietary limited company |
| Public limited company |
| Limited liability partnership |
| Limited liability company |
| Civil law corporate forms: |
| AB · AG · ANS · A/S · GmbH |
| K.K. · N.V. · OY · S.A. |
| EU law: |
| SE · SCE |
| Doctrines |
| Corporate governance |
| Limited liability · Ultra vires |
| Business judgment rule |
| De facto corporation and corporation by estoppel |
| Piercing the corporate veil |
| Related areas of law |
| Contract · Civil procedure |
Under the governing Australian Corporations Act 2001 (Cth), a proprietary company must either be:
- Limited by shares (Ltd.) - Shareholders are afforded more protection when it comes to the level of liability they face for company debts.
- Unlimited - Shareholders face unlimited liability
Proprietary limited companies are also classified as "large" or "small". A proprietary company is classified as small only if it meets at least two of the following criteria;
- Gross operating revenue of less than $10 million for the financial year
- Assets of less than $5 million at the end of a financial year
- Fewer than 50 employees at the end of a financial year.
See also
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