<P> Under the Australian Corporations Act 2001 (Cth), a proprietary company must be either--</P> <Ul> <Li> Proprietary Limited (Pty Ltd) company, limited by shares, where shareholders are afforded more protection when it comes to the level of liability they face for company debts; or </Li> <Li> Unlimited Proprietary (Pty) company with a share capital, similar to its limited company (Ltd or Pty Ltd) counterpart, but where the members' or shareholders' liability is not limited . </Li> </Ul> <Li> Proprietary Limited (Pty Ltd) company, limited by shares, where shareholders are afforded more protection when it comes to the level of liability they face for company debts; or </Li> <Li> Unlimited Proprietary (Pty) company with a share capital, similar to its limited company (Ltd or Pty Ltd) counterpart, but where the members' or shareholders' liability is not limited . </Li>

What is a pty ltd company in australia
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