PLC - Public Limited Company Formation

 

imageA PLC has access to capital markets and can offer its shares for sale to the public through a recognised stock exchange. It can also issue advertisements offering any of its securities for sale to the public.

A Public Lmited Company is a company which is registered as such and complies with the following:
It must state that it is a public limited company both in its memorandum and in its name. The memorandum must contain a clause stating that it is a public limited company and the name must end with 'Public Limited Company' or 'PLC'

It must have an authorised share capital of at least £50,000.
Before it can start business, it must have allotted shares to the value of at least £50,000. A quarter of them, £12,500, must be paid up. Each allotted share must be paid up to at least one quarter of its nominal value together with the whole of any premium.

A PLC must have at least two shareholders and at least two company directors. The secretary (or each joint secretary) must also be a person who appears to the directors to have the necessary knowledge and ability to fulfil the functions and who:

(a) held the office of secretary or assistant or deputy secretary on 22 December 1980; or

(b) for at least three of the five years before their appointment, held the office of secretary of a non-private company; or

(c) is a barrister, advocate or solicitor called or admitted in any part of the United Kingdom; or

(d) is a person who, by virtue of his or her previous experience or membership of another body, appears to the directors to be capable of discharging the functions of secretary; or

(e) is a member of any of the following bodies:

- the Institute of Chartered Accountants in England and Wales;
- the Institute of Chartered Accountants of Scotland;
- the Institute of Chartered Accountants in Ireland;
- the Institute of Chartered Secretaries and Administrators;
- the Chartered Association of Certified Accountants;
- the Chartered Institute of Management Accountants (formally known as the Institute of Cost and Management Accountants); or
- the Chartered Institute of Public Finance and Accountancy.

A PLC normally has only seven months after the end of its accounting reference period to deliver its accounts to the Registrar. A civil penalty will be incurred if it delivers accounts to Companies House after the statutory time allowed for filing. Penalties are fully explained in our booklet, 'Late Filing Penalties'.

A PLC cannot take advantage of many of the provisions and exceptions applying to private companies under the Act, such as audit exemptions for small private companies.

A PLC cannot apply for voluntary strike-off under section 652A, Companies Act 1985. Further information about this is available in our booklet 'Strike-Off, Dissolution and Restoration'.

A PLC has access to capital markets and can offer its shares for sale to the public through a recognised stock exchange. It can also issue advertisements offering any of its securities for sale to the public. In contrast, a private company may not offer to the public any shares in itself.

You do not have to be a UK national or resident to be an officer of a PLC.

The company must also have a registered office within the United Kingdom. This is the official address of the company, it does not have to be a trading address, and the company does not have to maintain a presence at the address. We will provide you with an address to use as your registered office.


  • Price & Fees

     
    • Registration of UK Public Limited Company £412
    • Registered Office address included

    Optional Services

     
    • EU Resident to act as nominee director £750
    • Company Secretary £240
    • Nominee Shareholder £280
    • Bank Account assistance £320

    Help & Advice

     
    Contact us with any questions that you may have. We will be pleased to speak with you and will do our best to assist you.
    If you are ready to register your PLC please use our secure order form
     

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