Many Not for Profit (Non Profit) companies limited by guarantee should qualify as Special Purpose Companies with ASIC.
A Special Purpose Company qualifies for reduced annual review fees from $1000 pa to $40 pa (a not insignificant saving!)
You can advise ASIC that a company is a Special Purpose Company on the Form 201 Application for Registration. Alternatively, at a later date, you can lodge a Form 484 Change to company detailsThere are number requirements for a Not-for-profit company to qualify as a Special Purpose Company – and all 3 requirements are addressed in our template constitution for companies limited by guarantee.
A company that ceases to be a Special Purpose Company must notify ASIC of this change using a Form 484 B3.
It makes good sense to enage our specialist Not for Profit lawyers.
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