What is a company limited by shares?

company limited by shares means a company -

• whose memorandum limits the liability of all its members to the amount (if any) unpaid on the shares held by its members; and
• means -
  • with a share capital consisting of par value shares; or
  • Authorization to issue no-par value shares;

You can find more and further information in our Lexicon/Glossary or in the IBC Act.