Transfer to a company status
You can choose to change the status of your association and become a company. In most cases, you will apply to become a ‘company limited by guarantee’. This might be helpful if you’ve grown into a larger-scale organisation.
Talk to an independent lawyer before deciding to change your status.
Why become a company
This may be a helpful option which provides a:
- reporting structure designed for larger entities
- single registration that applies all around the country.
If you change your status, you may not need to pay transfer duty or capital gains tax. While you have changed status, your company is still the same legal entity. Its assets and liabilities don’t change owner.
How to change status
Step 1 - Pass a special resolution
Becoming a company is a major change to your association’s structure. To make such a change, you must pass a special resolution at a general meeting. It needs to be passed by at least 75% of the members who are present and entitled to vote.
Step 2 - Register your company name
You will need to register your company name with the Australian Securities and Investments Commission (ASIC). To make sure that your preferred name is available, you can search ASIC’s registers.
Step 3 - Apply to make the transfer
You need to apply to us to transfer your association’s registration. You will need to fill in a transfer application form. There are 2 separate forms, depending on when your association was incorporated.
Download this form - for an association incorporated after 1 July 1982.
Download this form - for an association incorporated before 1 July 1982.
Step 4 - Become a ‘company limited by guarantee’
If we approve the transfer, you will then need to register as an Australian company. You will need to apply to ASIC to register. Make sure you are familiar with all of your new regulatory requirements.
Check with ASIC to find out more.
As an existing organisation, you will need to apply as a ‘body corporate’ to become a company. Make sure you apply to be ‘limited by guarantee’.