What kind of company does not have share capital?

• A. Private company
• B. Public company
• C. Unlimited company
• D. Guarantee company

Answer: (D)

Share capital is the money raised by issuing shares to investors. A guarantee company does not issue shares at all. Instead, its members agree to contribute a fixed amount toward debts if the company is wound up. Because there are no shares issued, there is no share capital. This structure suits non-profit entities like charities, clubs, and membership bodies, where liability is limited to the amount guaranteed rather than to shareholdings. In contrast, the other forms typically raise funds by issuing shares, which creates share capital.