Australia[edit] The private company equivalent in Australia is the Proprietary Limited company (Pty. Ltd.). An Australian company with just Limited or Ltd. at the end of its name is a public company, such as a company listed on the ASX (although public companies can be, and often are, unlisted). Australia does not have a direct equivalent to the plc. A shareholder in a limited company, in the event of its becoming insolvent (equivalent to bankruptcy in the U.S.) would be liable to contribute the amount remaining unpaid on the shares (usually zero, as most shares are issued fully paid). Paid here relates to the amount paid to the company for the shares on first issue, and not to be confused with amounts paid by one shareholder to another to transfer ownership of shares between them. A shareholder is thus afforded limited liability.
Posted on: Thu, 06 Mar 2014 09:24:09 +0000
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