In Australia, there are four different types of public companies. These include:
- Public companies limited by shares
The same as a proprietary company limited by shares, a public company that is limited by shares is a company where the liability of its members is limited to the nominal amount of their shares. Where a proprietary company has a maximum of 50 shareholders though, this public company type has no limit.
- Public companies limited by guarantee
The difference with a company that is limited by guarantee is that members can guarantee a fixed amount to be undertaken to contribute to the company when it is wound up. These types of companies have no share capital and are generally used for NFPs and Community organisations.
- Unlimited public companies with a share capital
An unlimited public company with a share capital is a company where its members liability is not limited.
- No liability companies (mining and resource companies)
In Australia, a no liability public company is a type of public company that has share capital. They can only be used where the principal activity of the company is that of mining or resource exploration.
Patricia Holdings offers two types of public companies – unlisted public companies limited by shares and unlisted public companies limited by guarantee.