Okay CAC has just announced, if you intend to register a university that awards degrees, you must register it as a limited by guarantee company. A limited by guarantee company has no share capital, the members are guarantors and not shareholders. It must get an approval from attorney general, letter of no objection from the National University Commission. A limited by guarantee is somehow similar to an Incorporated Trustee, but it is registered as a company under Part A of CAMA.
Limited by guarantee has a legal personality. Unlike incorporated trustees that can't do business, LTD by guarantee can get involved in business.
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