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Company Limited By Guarantee Memorandum Of Association

Company Limited By Guarantee Memorandum Of Association Template for Australia

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Key Requirements PROMPT example:

Company Limited By Guarantee Memorandum Of Association

"I need a Company Limited by Guarantee Memorandum of Association for establishing a national educational charity that will provide free coding education to underprivileged students across Australia, with operations scheduled to commence in March 2025 and potential expansion to New Zealand in the future."

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Document background
The Company Limited By Guarantee Memorandum Of Association is a crucial incorporation document required when establishing a non-profit or charitable organization in Australia. This document is mandated by the Corporations Act 2001 (Cth) and must be submitted to ASIC as part of the company registration process. It is particularly suited for organizations that do not distribute profits to members and where members' liability is limited to a specified guarantee amount. The memorandum contains essential information about the company's purpose, structure, and governance framework, including objects clauses, powers, and member liability provisions. It forms part of the company's constitution and serves as a reference point for stakeholders, regulators, and the public regarding the organization's fundamental characteristics and operational parameters.
Suggested Sections

1. Company Name and Type: Specifies the company name and confirms its status as a company limited by guarantee

2. Objects: Details the primary purposes and objectives for which the company is established

3. Powers: Outlines the legal powers of the company to carry out its objects

4. Income and Property: Establishes restrictions on use of company income and property, particularly regarding distributions to members

5. Liability of Members: States the limited liability nature and specifies the guarantee amount

6. Winding Up: Provisions for dissolution and distribution of surplus assets

7. Amendments to Memorandum: Process for modifying the memorandum

8. Initial Members: Lists the founding members who subscribe to the memorandum

Optional Sections

1. Not-for-profit Clause: Required if the company will operate as a non-profit entity or seek registration as a charity

2. Charitable Purposes: Required if the company will seek registration as a charity, defining specific charitable purposes

3. International Operations: Required if the company will operate outside Australia, detailing international scope and compliance

4. Special Governance Requirements: Additional governance provisions required by specific regulators or funding bodies

5. Religious Purposes: Special provisions for organizations with religious purposes

6. Educational Purposes: Specific provisions for educational institutions

Suggested Schedules

1. Schedule 1: Initial Members: Detailed information about founding members including names, addresses, and signatures

2. Schedule 2: Amount of Guarantee: Specific details of the guarantee amount and any conditions attached

3. Schedule 3: Initial Directors: Details of the first directors of the company

4. Appendix A: Specific Objects: Detailed list of specific activities and objectives of the company

5. Appendix B: Governance Structure: Detailed outline of governance arrangements and organizational structure

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

























Clauses






















Relevant Industries

Non-Profit Organizations

Charitable Organizations

Education

Religious Institutions

Professional Associations

Sports and Recreation

Arts and Culture

Healthcare

Social Services

Environmental Organizations

Industry Associations

Research Institutions

Relevant Teams

Legal

Compliance

Corporate Governance

Board of Directors

Executive Leadership

Risk Management

Regulatory Affairs

Company Secretariat

Relevant Roles

Chief Executive Officer

Company Secretary

Legal Counsel

Compliance Officer

Board Director

Governance Manager

Risk Manager

Non-Profit Executive Director

Charity Administrator

Corporate Lawyer

Regulatory Affairs Manager

Board Chairman

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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