A public limited company (‘PLC’) is now defined as a company limited by shares (or limited by guarantee and having a share capital):
- Whose certificate of incorporation states that it is a public company.
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Which has been registered or re-registered as a public company on or after 22 December 1980.
The main features of a public limited company are:
- The name must end with the words public limited company or PLC
- The allotted share capital must have a nominal value of not less that the ‘authorised minimum’ which is presently £50,000 or the euro equivalent
- The allotted share capital must be at least 25% paid up as to nominal value and be at least 100% paid up as to any share premium
- They are subject to stringent rules to ensure that full value is given for allotted shares
- Their shares can be offered to the public
- The Company Secretary must be a qualified person i.e. a Chartered Secretary, Chartered or Certified Accountant, Solicitor of such other qualified person
The statutory package for a Public Liability Company includes:
- Original Certificate of Incorporation
- 2 bound copies of the Articles of Association
- Draft minutes of the first board meetings
- Statutory Books
- Pre – printed share certificates
- Stock transfer forms if applicable
M&N Group can draft bespoke articles to suit any specific needs.
Check the availability of your proposed name using our free Company Name Check
