Which of the following statements contained in the Articles of Association of Caves would identify it as a private limited company rather than a public limited company?

(a) The liability of each member is limited

(b) The company shall have not less than two directors, each holding office for five years

(c) To qualify for election as a director a member shall own not less than 1,000 shares

(d) A member shall not transfer the shares to another without offering it first to the directors