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Company Limited by Guarantee

Definition of a “Company limited by guarantee”

A Company limited by guarantee is defined in the sub-section (21) of section 2 of the companies act 2013 as "a company having the liability of its members limited by the memorandum to such amount as the members may respectively undertake to contribute to the assets of the company in the event of its being wound up".


A Company limited by guarantee can be formed under the said Act.
Types of “Company limited by guarantee”


There can be two types of Company limited by guarantee.

(1) Company limited by guarantee and having a share capital, or

(2) Company limited by guarantee and not having share capital.

Memorandum of Association

The Memorandum of Association of such company limited by guarantee can be as per Table B (for companies having no share capital) & Table C (for companies having share capital) of Schedule I of the said Act.

Articles of Association
 
The Articles of Association of such company limited by guarantee can be as per Table G (for companies having share capital) & Table H (for companies having no share capital) of Schedule I of the said Act.
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