A company limited by guarantee does not usually have a share capital or shareholders, but instead has members who act as guarantors. The guarantors give an undertaking to contribute a nominal amount (typically very small) in the event of the winding up of the company.
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Minimum of two Directors for private and three for public limited companies. The number of directors resident in Zambia shall not be less than half the number of directors appointed
Applicable to Public Company, Private Company Limited by Shares and Unlimited Private Company. *If Shareholder is a Body Corporate
*If Company Secretary is a Body Corporate