WHAT IS A PUBLIC LIMITED COMPANY?

A public limited company (PLC) is a company having a share capital whose memorandum of association states it to be a public company. The shares of a PLC may be offered for sale to the general public. A PLC must comply with the following requirements:

• The minimum number of shareholders must be two
• The authorised share capital must be a minimum of £50,000 of which 25% is paid up i.e. £12,500 must be placed in a bank account for the shares
• A PLC is not entitled to commence business or exercise any borrowing powers until the Registrar of Companies has issued a certificate of compliance with the capital requirements as set above
• Accounts must be filed within 7 months of the year end
• The Company Secretary must be a qualified person i.e. a Chartered Secretary, Chartered or Certified Accountant, Solicitor of such other qualified person
• The minimum number of Directors is two

M & N can incorporate a Public Liability Company normally within 24 hours.

The statutory package for a Public Liability Company includes:

• Original Certificate of Incorporation
• 4 bound copies of the Memorandum & Articles of Association
• Draft minutes of the first board meeting
• Statutory Books (allotments, transfers, mortgages, debentures,
  directors and secretary minutes)
• Pre - printed share certificates
• Stock transfer forms if applicable
• Form 225 to change the company's accounting reference date
• Form 88(2) to allot additional shares