North Melbourne are no longer privately owned, with the AFL club officially handed back to its members.

The Kangaroos had been privately owned for more than 20 years, before proposed changes to their registration details were officially proposed on December 23.

No appeals were lodged with the Administrative Appeals Tribunal in the ensuing month.

As such, the Australian Securities and Investments Commission (ASIC) altered the club's registration on Friday, declaring it a public company limited by guarantee.

"It is one thing to hold a vote at a general meeting but it is entirely another matter to actually meet all the legal and regulatory requirements in order for the club to officially change its structure," said North Melbourne chief executive Eugene Arocca.

"Today marks a significant date as it becomes the day upon which the members take ownership of the club.

"Today officially marks the end of the shareholder-based company that we once were and we cannot emphasise how important being a member-based organisation is to the future of this club."

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