What is a Public Company Limited by Shares used for?
A public company limited by shares has share capital, may offer its shares to the general public and can be (though usually isn’t) listed on the stock exchange.
- Three directors – must be over 18 years of age and at least two directors must ordinarily reside in Australia.
- At least one secretary is required, who must live in Australia.
- A public company must have at least one member, but there is no upper limit on its number of members. Any legal entity may hold shares in a company.
- It must have the word ‘Limited’ or ‘Ltd’ at the end of the company name.
As the need can arise in a company of this type, you can instruct us to provide for directors being on rotation.