I think I was thinking about "NL" (non liability) companies that...

I think I was thinking about "NL" (non liability) companies that are restricted under section 112(3) of the Corporations Law from engaging in activities that are outside mining purposes under the objects of its constitution.

http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s112.html

Section 125 of the Act talks about a company's constitution limiting the company's objects (ie the purpose and range of activities) but according to this section of the law, although the company's constitution can restrict a company's objects, an act of the company is not invalid merely because it is contrary to or beyond any objects in the company's constitution.

http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s125.html

Seems like a completely contradictory and pointless law.

If GRR's constitution currently restricts it's purpose and activities, despite still being able to act contrary to those restrictions pursuant to the above law it can modify or repeal its constitution by special resolution of shareholders, being a resolution passed by at least 75% of votes.

I've quickly tried to find the latest version of GRR's constitution to see if its objects currently restrict its activities to mining. Can't find it. Can anyone find this document.

We might see a special resolution come down the pipe soon if the current constitution doesn't allow activities beyond mining and they are really serious about moving this business segment forward. Esh