A company comes into existence on registration: the separate legal entity principle A company registered under the Corporations Act:
•is a separate legal entity distinct from its members
•continues to exist until it is deregistered (sometimes referred to as perpetualsuccession)
•is capable of suing and being sued
•has the legal capacity and powers of an individual (see: s124(1) (note: s 125)
•has all the powers of a body corporate