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