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In a limited company: the n1en1ber has no liability to creditors of the company and a lin1ited liability to the company. Explain what this means.
In a limited company: the n1en1ber has no liability to creditors of the company and a lin1ited liability to the company. Explain what this means. Your explanation should contain reference to the any relevant sectionXs and case latv. (2 marks) In an unlin1ited company the member has no liability to creditors of the company and an unlimited. liability to the company. Explain what this means. {2 marks) From the statements above that with regards to creditors of the company, there is no difference between the position of a member of a limited company and an unlimited company. Til-11y is there no difference? {1 mark) Under the lI'Cos Act 2015 a company categorised as a private company will be further sub categorized as either a small, nlediuin or large private company. Required: R'hm is the legal signicance of this further subclassification? Include reference to any relevant sectionf s. {2 marks} All listed companies are public companies. Are all public companies listed companies? Provide reasons in support of your anstver. (2 marks) Suppose you are a member of a company limited by guarantee. How can you prove that? Include reference to any relevant sectionX s. (1 mark)
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