An unlimited company is a separate legal body where there is no limit to the liability of the members. Therefore, in the event of such a company being wound up the members can find themselves liable to pay or contribute towards the debt of the company and the winding up costs. The advantage of an Unlimited Company is that they are exempted from filing accounts with the Registrar (unless the company is a holding or subsidiary of a limited company).
M&N Group can draft bespoke Articles to suit your specific requirements. There are no model articles under the Act.
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The statutory package for an Unlimited Company includes:
- Original Certificate of Incorporation
- 4 bound copies of the Articles of Association
- Draft minutes of the first board meeting
- Statutory Books