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.