Public Limited Company (PLC) requirements

A public limited company is a company whose shares can be freely sold to members of the public. There are some specific requirements for starting a PLC. Make sure you meet the requirements before you begin.

In order to be allowed to register as a PLC, the company must have:

  • At least two directors (who may also be shareholders)
  • At least two shareholders
  • A qualified company secretary
  • A share capital of at least £50,000 (of which at least 25% must be deposited in cash at the company bank)

To qualify for appointment as secretary of a PLC, a person must be one of the following:

  • A chartered accountant
  • A certified accountant
  • A barrister
  • A solicitor
  • A member of the Chartered Institute of Secretaries
  • A member of the Chartered Institute of Public Finance and Accountancy

Form SH50
A PLC is not allowed to start trading or to borrow money until it has obtained a trading certificate from Companies House, confirming that it has the minimum allotted share capital. If the company starts trading without a trading certificate, the directors may be convicted and fined. Application for a trading certificate is made after incorporation, by submitting form SH50 to Companies House. We will provide this form with your incorporation pack.

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Filed under: PLC