UNDER SECTION 29 OF COMPANIES ACT

Companies Limited by Guarantee

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Here at Zia Consulting Firm Ltd., we can help you register your Company Limited by Gurantee, and submission of Annual Returns. The law in relation to such Company Limited by Gurantee has been laid out in Section 29 of the Companies Act, 1994, as laid out below.

29. Provision as to companies limited by guarantee.

(1)

In the case of company limited by guarantee and not having a share capital and registered after the commencement of this Act every provision in the memorandum or articles or in any resolution of the company purporting to give any person a right to participate in the divisible profits of the company otherwise than as a member shall be void.

(2)

For the purpose of this section and the other provisions of this Act. relating to the memorandum of a company limited by guarantee every provision in the memorandum or articles, or in any resolution, of any company limited by guarantee and registered after the commencement of this Act. purporting to divide the undertaking of the company into shares or interests shall be treated as a provision for as share capital notwithstanding that the nominal amount or number of the shares or interests is not specified thereby.

Company Limited by Guarantee means, that the company which may or may not have a share capital and the members thereof promise to pay the company’s debts up to a fixed sum in the event of liquidation of the company. Such a company may be a public company or a private company.

Please contact us for more details, to find out about timeframe and registration process for your Company Limited by Guarantee.