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Public Limited Companies

Public Limited Companies

Public Limited Company (PLC)

A Public Limited Company (PLC) is a corporate entity that may sell its shares to the public. A PLC can only trade if it has issued at least £50,000 in nominal value of shares and each share must be at least one quarter paid-up. It is important to note, therefore, that the shareholders are exposed to a total potential liability of at least £50,000.

A PLC must have at least one shareholder and at least two directors. There is also a requirement to have a company secretary, who must be a person that can demonstrate he/she has the necessary skills and experience to carry out their duties adequately. We can provide a corporate company secretary, if required.

The company secretary's role

The company secretary must have either:

  • Have had a position of company secretary or alternatively been a deputy company secretary as at 22nd December 1980; OR
  • Have been a company secretary for three out of the last five years with a company which is not private; OR
  • Have the confidence of the directors who feel that due to the person's experience and knowledge, they can discharge the required duties in the manner expected; OR
  • Be a member of one or more of these professional organisations:
    • the ICAEW
    • the ICAS
    • the ICAI
    • the ICSA
    • the ACCA
    • the CIMA
    • the CIPA

Public Limited Company formation

If you would like to order a Public Limited Company formation, then please contact us for further information.