| 单词 | limited company |
| 释义 | limited company limited company A company in which the liability of the members in respect of the company’s debts is limited. It may be limited by shares, in which case the liability of the members on a winding-up is limited to the amount (if any) unpaid on their shares. This is by far the most common type of registered company. The liability of the members may alternatively be limited by guarantee; in this case the liability of members is limited by the memorandum to a certain amount, which the members undertake to contribute on winding-up. These are usually societies, clubs, or trade associations. Since l980 it has not been possible for such a company to be formed with a share capital, or converted to a company limited by guarantee with a share capital. See alsopublic limited company. |
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