What is a public company limited by guarantee? What is the members guarantee?
A company limited by guarantee is a type of public company registered under the Corporations Act 2001. Like all other companies, companies limited by guarantee must comply with the applicable provisions of the Corporations Act.
These companies are formed on the principle that the liability of members is limited to the amount they agree to contribute if the company is wound up. This is known as the "Members Guarantee", and is typically nominal and set out in the company's constitution.
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