| 释义 |
unlimited company
A type of registered company whose members have an unlimited liability (Companies Act 2006 s 3(4)). Thus on winding-up, the company can make demands upon its members until it has sufficient funds to meet the creditors’ claims. The risk that members of unlimited companies assume is balanced by certain advantages: an unlimited company (unless it is a parent or subsidiary of a limited company) does not have to deliver its accounts to the Registrar of Companies and it has more freedom to deal with its capital than a limited company. Unlimited companies may be formed with an authorized capital, thus enabling them to issue shares and raise working capital, but members’ liability is not limited to the nominal value of these shares. |