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Companies Limited By Guarantee

A company limited by guarantee does not have a share capital and therefore no shares but has members who are guarantors instead of shareholders.

The liability to the members is limited by the memorandum to such amount as the members may undertake to contribute to the assets of the company in the event of it being wound up.

Guarantee companies are useful for non-profit organisations that require corporate status and typical uses of a guarantee company include charitable, quasi-charitable, non profit or social purposes.