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The Development Trust Structure

Marlborough Area Development Trust Ltd is a private company limited by guarantee.

In British and Irish company law, a private company limited by guarantee is an alternative type of corporation used primarily for non-profit organisations that require legal personality.

The Development Trust does not have a share capital or shareholders, but instead has members who act as guarantors. The guarantors give an undertaking to contribute a nominal £1 in the event of the winding up of the company.

All the details of how we operate as a company are set out in our Articles of Association which define how the company is managed with a Board of Directors that can vote to accept new Members, appoint new Directors and operate all aspects of the company.

 

More about the Development Trust :


Page last modified on Monday 24 of February, 2014 20:17:38 GMT