PUBLIC LIMITED COMPANY

Public Limited Company which is abbreviated as “Plc” is the standard legal designation of a company under the United Kingdom Company law and the Republic of Ireland. Its a limited company whose shares can be sold as well as traded. Their stock can be obtained by anyone and the holders are limited of losing the amount paid for the shares.

The formation of a Public Limited Company (PLC) requires at least two people assuming that it has lawful purpose.

In general anyone can be a company director if he/she is not disqualified on these following steps :

• The person should be over 70 years of age or reaches 70 years while in the office unless they are appointed or re-appointed by the resolution of the company in general meeting of which special notice has been given.
• Any male/female under 16 years old.
• Subjected to the Bankruptcy Restrictions Order (BRO), if the person found is under undischarged bankrupt, will be disqualified by the Court from holding the directorship, unless given chance to act in respect of a particular company.
• Even the secretary of a public limited company should be knowledgeable and must have the ability to fulfill the functions.
• The share capital of PLC must be minimum of 50,000 pound with at least 25% of this being paid up in full. The company will not be responsible to conduct any business until it obtains a trading certificate from the Companies House confirming that it has minimum allotted share capital.

Note : We do not currently form PLCs.