No, the company does not have a share capital and its funding comes from the public. CLGs have members whose liability is limited to an amount that will be paid on the winding up of the company if the company’s assets are less than its liabilities. This is known as the Members Guarantee. There are no shares allotted thus no share certificates issued.
A Not-for-profit Public Company Limited by Guarantee is not permitted to distribute profits or assets to its members. The company must comply with all obligations of public companies under the Corporations Act 2001 (Cth).
