The RCSLT council

The RCSLT is a company limited by guarantee. This is a category used by not-for-profit organisations that require corporate status. A company limited by guarantee does not have share capital, but has members who are guarantors instead of shareholders.

The guarantors give an undertaking to contribute a nominal amount (in the RCSLT's case, £1 per member) towards the winding up of the company in the event of a shortfall upon cessation of business.

The RCSLT cannot distribute its profits to its members, and because of this is eligible to apply for charitable status. As a charity, the RCSLT is subject to the rules of the Charity Commission for England and Wales.

One of these rules stipulates that the RCSLT must have a board of elected trustees (councillors) who are responsible for the RCSLT's legal, financial and managerial affairs.

RCSLT Memorandum and Articles of Association