What is a company limited by shares and guarantee?
company limited by shares and guarantee means a company -
- the articles of association of which limit the liability of one or more of its members to a fixed amount, in which each member thereby undertakes to contribute to the assets of the company in the event of its dissolution by way of guarantee and not by reason of holding a share;
- whose memorandum limits the liability of one or more of 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;