PNGSDP is a Company limited by guarantee........registered in - TopicsExpress

PNGSDP is a Company limited by guarantee........registered in Singapore That means that it does not have any shareholders.........no one can buy or own shares in PNGSDP This structure of company or organisation is used by charities and non profit organisations...... On that day when the time came for PNGSDP to be registered in PNG it was found that IPA did not have that category to register a Company limited by guarantee, the IPA forms only showed a field for shareholders So these two gentlemen who were members of PNGSDP (On a salary of 10 singapore dollars per annum) duly registered the company so that PNGSDP could start its development work in PNG. There is no conspiracy or trickery going on, Jim Carlton has retired Don Manoa still is a director of PNGSDP. After the 10th supplement of last year PNGSDP has no substantial assets in PNG

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