Capital structure of Urabba Parks
The capital structure of Urabba Parks is the way in which Urabba Parks Pty Ltd is financed.
Urabba Parks also has the power to issue service membership (redeemable preference shares), being redeemable (i.e. repayable) to the shareholder for the amount paid up upon winding up or on the shareholder's request, with applications for redemption being placed in a redemption queue.[Constitution 1]
Urabba Parks Pty Ltd is limited by shares, meaning that the liability of members is limited to the amount (if any) unpaid on their shares. Most shares are issued 'paid up' with no such liability. This is in contrast with most charitable companies which are limited by guarantee and do not have a share structure.
- Honorary membership (bonus shares), being paid up from retained earnings
- Service membership, which is not equity but debt (see above)
- Patron membership (non-redeemable preference shares), where the shareholder has the right to nominate the amount paid up on the shares to their chosen charity upon winding up
- Ordinary membership, where shareholders are entitled to chose the charities to receive assets remaining net assets after the payment of debts (including those related to service membership) to their charities in proportion to their shareholding.
- ACNC Charity register >> Urabba Parks Pty Ltd Annual Information Statement 2021. Retreived 13 August 2022.