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.
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