Public Company Limited by Guarantee
A public company limited by guarantee is a specialised form of public company designed for non-profit organisations. ‘Limited by guarantee’ means that upon the winding up of this type of company, the members must specify the amount they are willing to contribute to the property of the company. This amount will determine or limit the liability of the company’s members.
The key advantages of this legal structure are:
- It allows the organisation to operate nationwide.
- Provides potential donors, clients and business partners with confidence that the organisation is run according to stringent principles and acknowledged standards.
- Satisfies the obligations of organisations that are required to have this structure by law.