A Limited by Guarantee Company must have at least three (3) directors (of which two (2) must reside in Australia), one (1) secretary (must reside in Australia) and one (1) member (can reside in Australia or overseas). There is no upper limit on the number of directors, secretaries or members but it is advisable to limit the number of directors and secretaries to 10 and the number of members to 50. It must also have a members guarantee amount and should have its objectives listed in its constitution.
You will need to have the Constitution ready for ASIC to review before the company registration. Because it is a public company, ASIC is required to review the Company’s constitution. Patricia Holdings provide two types of Constitutions for a Public Company Limited by Guarantee, one is for Not-for-profit Public Company Limited by Guarantee and the directors can still be paid; the other one is for Special Purpose Not-for-profit Public Company Limited by Guarantee where the directors cannot be paid. For both types of Constitution, you will need to provide us with the objectives of the company and the guaranteed amount so we can tailor them into the constitution for your company.
You can also provide your own constitution via email or our online order form and we will lodge it with ASIC to register your Public Company Limited by Guarantee.
