A Company Ltd by Guarantee is a corporate body regulated by Company Law (currently the Companies Act 2006) and is regulated by Companies House.
This type of organisation is run by a democratically elected Board of Directors.
The governing document under this structure is called Artices of Association. The Articles are formally adopted by the members at the first Annual General Meeting (AGM).
Members liability is limited to an agreed amount (usually £1) unless there is evidece of willful neglect or criminal activity.
This structure suits groups who want to employ staff or enter into contracts and those who are handling large sums of money.
It is possible for a company Ltd by Guarantee also to have charitable status. If this is the case it will be monitored by both Companies House and the Office of the Scottish Charity regulatore (OSCR).
Ltd by Guarantee should be sent to Companies House (there is currently a fee for this), along with a copy of your Articles of Association.
More information on starting a new company can be found at the following: