| Commentary

23 Limited liability company

| Commentary

23 Limited liability company

The limited liability company developed as a vehicle for commercial activities and in some forms is unsuitable for charities, which enjoy little or no scope for trading and none for personal profit. Nevertheless, it is widely used for the kind of charity which would previously have been constituted as an unincorporated association1. One reason undoubtedly, is the protection of the trustees which is perceived as resulting from limited liability, and although such protection is more circumscribed than is sometimes assumed, a major factor in the adoption of the structure of a limited liability company is that it largely

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