Country Idealist Profiles

Australia – Companies Limited by Guarantee

Section 9 of the Corporations Law defines the company limited by guarantee as one that is formed on the principle of having the potential liability of members limited to the amount that that member has ‘guaranteed’ to pay under the company’s memorandum of association. References to shareholders in the Corporations Law do not apply to members of companies limited by guarantee because such companies do not have a share capital. However, apart from specific exceptions, a reference to a ‘member’ includes a reference to a member of a company that is a company limited by guarantee.

http://www.austlii.edu.au/au/journals/BondLRev/1998/16.html

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