What type of company requires members to pay a guaranteed amount in the event of winding up?

A company limited by guarantee is structured specifically for situations where members agree to contribute a predetermined amount in the event of the company's winding up. This type of structure is common for non-profit organizations, community groups, or charities, where the members do not contribute capital shares but instead commit to a financial contribution to cover the company's debts and obligations should it cease to operate.

In general, a company limited by guarantee does not have shares or shareholders, but rather members who contribute to the company's financial liabilities up to the amount they have guaranteed. This feature provides a degree of financial protection for the members, as their liability is capped at the agreed-upon amount, encouraging investment in beneficial causes without exposing them to unlimited financial risk.

Other types of companies, like public companies, unlimited companies, and private limited companies, operate under different structures and liability frameworks. Public companies typically issue shares and have shareholders whose liability is limited to their investment in those shares. Unlimited companies do not have such limits, meaning members could be liable for all debts without any cap. Private limited companies also limit liability to shareholders based on their shareholdings without the specific commitment approach seen in companies limited by guarantee.