The way you worded that sounds odd - are you referring to the company or the person with the last bit?
You can start a company called "Applied Astronautics" and call yourself "President/Chief Engineer", with just a bachelor's degree, for example. Two reasons:
1. There is no aero PE. The concept and law does not apply
2. The company name doesn't imply it.
If you are in a relevant field where the PE applies, you can't call the firm "Applied Engineering" without a PE on the board. If you have a PE on the board, you can generally call yourself a "project engineer" as long as you have an engineering degree. It may not be technically accurate, but since it has no effect on the company's liability, it is overlooked as a useful colloqialism.
The law you quoted is pretty much the same as how it works in the US.