Although we often think of a ‘company’ as being a for-profit business, a company limited by guarantee is a special form of public company that can be used by not-for-profits.
Companies limited by guarantee sit under the Corporations Act 2001, and are regulated by the Australian Securities and Investments Commission (ASIC).
They use a governance structure with ‘directors’, but has ‘members’ instead of ‘shareholders’. The following factsheets contain information for directors of these organistions.
You can find more information on companies limited by guarantee in the Start a community service organisation section of Community Door.