1199:
1079:
49:
166:
1158:
This gives details of the first directors, secretary and the intended address of the registered office. As well as their names and addresses, the company's directors must give their date of birth, occupation and details of other directorships they have held within the last five years. Each officer
1004:
There is a minimum share capital for public limited companies: 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
1165:
This is a statutory declaration of compliance with all the legal requirements relating to the incorporation of a company. It must be signed by a solicitor who is forming the company, or by one of the people named as a director or company secretary on Form 10. It must be signed in the presence of a
1151:
This is the document which sets out the rules for the running of the company's internal affairs. The company's articles delivered to the
Registrar must be signed by each subscriber in front of a witness who must attest to the signature. The articles define the inter-management, inter-member and
1144:
This sets out the company name, the registered office address and the company objects. The object of a company may simply be to carry on business as a general commercial company. The company's memorandum delivered to the
Registrar must be signed by each subscriber in front of a witness who must
1064:
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.
1019:
A company can decrease its authorised share capital by passing an ordinary resolution to cancel shares which have not been taken or agreed to be taken by any person. Notice of the cancellation, on Form 122, must reach
Companies House within one month. No fee is payable to Companies House.
921:
concerns) incorporated under special legislation are exempted from bearing any of the identifying suffixes. The term "public limited company" and the "PLC"/"plc" suffix were introduced in 1981; prior to this, all limited companies bore the suffix "Limited" ("Ltd."), which is still used by
978:
Formation of a public limited company requires a minimum of two directors and one secretary (differing from country to country: in India three directors are required). In general terms anyone can be a company director, provided they are not disqualified on one of the following grounds:
1145:
attest the signature. It is often referred to as the 'charter of a company' or 'constitution of the company'. The signatories to the memorandum of association are deemed to be the first directors of the company. The memorandum defines the relation of members with the rest of the world.
1252:
Every company must deliver an annual return to
Companies House at least once every twelve months. It has 28 days from the date to which the return is made up to do this. Failure to file a return is a criminal offence, for which the officers of the company may be fined.
1000:
The members must agree to take some, or all, of the shares when the company is registered. The memorandum of association must show the names of the people who have agreed to take shares and the number of shares each will take. These people are called the subscribers.
987:
the person is an undischarged insolvent, subject to a
Bankruptcy Restrictions Order (BRO) or Bankruptcy Restrictions Undertaking (BRU) or otherwise disqualified by a Court from holding a directorship, unless given leave to act in respect of a particular company or
903:. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with
983:
in the case of PLCs or their subsidiaries, the person is over 70 years of age or reaches 70 years of age while in office, unless they are appointed or re-appointed by resolution of the company in general meeting of which special notice has been
1181:
The key difference with the paper process is that there is no Form 12 and requirement for a statutory declaration. This significantly speeds the process: the record at
Companies House for the formation of an Electronic Company is 23 minutes.
1508:
The basic distinction between private and public companies is retained. Private ones will continue to incorporate the word 'Limited' (or 'Ltd') in their name, while public ones will incorporate the new words 'Public
Limited Company' (or
1060:
are no longer possible, as they were abolished in the UK by the Small
Business, Enterprise and Employment Act 2015. Any existing bearer shares had to be converted to registered shares before February 2016, or face cancellation.
1053:– These shares are issued with an agreement that the company will buy them back at the option of the company or the shareholder after a certain period, or on a fixed date. A company cannot have redeemable shares only.
1280:
A private company must pass a special resolution that it be so re-registered and deliver a copy of the resolution together with an application form to the
Registrar. The resolution must also:
1028:
A company may have as many different types of shares as it wishes, all with different conditions attached to them. Generally, share types are divided into the following categories:
1185:
Because the electronic process requires compatible software that works with
Companies House eFiling service, companies are usually formed through a Company Formation Agent.
1209:
1166:
commissioner for oaths, a notary public, a justice of the peace or a solicitor. There is usually a £5 fee payable to the person that witnesses the statuary declaration.
1089:
1016:). A copy of the resolution – and notice of the increase on Form 123 – must reach Companies House within 15 days of being passed. No fee is payable to Companies House.
715:
673:
963:
1035:– As the name suggests these are the ordinary shares of the company with no special rights or restrictions. They may be divided into classes of different value.
431:
1041:– These shares normally carry a right that any annual dividends available for distribution will be paid preferentially on these shares before other classes.
991:
in England and Wales (as of October 2008; Companies Act 2006) and in Scotland (Age of Legal Capacity (Scotland) Act 1991), the person is under 16 years old.
1671:
882:
company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum
628:
837:
66:
1551:
1577:
532:
341:
520:
464:
423:
1681:
1650:
402:
1655:
190:
113:
1676:
1617:
1379:
1239:
1119:
951:
923:
469:
132:
85:
546:
447:
1047:– These shares carry a right that, if the dividend cannot be paid in one year, it will be carried forward to successive years.
92:
70:
1297:
If it does not already have sufficient share capital, the company must issue £50,000 in shares a minimum of 25% part paid.
1316:
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1529:
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99:
1221:
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743:
220:
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1336:
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439:
215:
200:
81:
1256:
There is an annual document-processing fee of £40 if filed by paper (or £13 for users of the Electronic Filing or
59:
1311:
1176:
788:
723:
512:
382:
210:
1306:
1290:
make any other alterations to the memorandum so that it conforms to that required for a public limited company,
1013:
683:
550:
225:
185:
1321:
871:
392:
313:
1686:
823:
705:
352:
266:
231:
195:
149:
648:
180:
1543:
1573:
773:
710:
31:
1284:
alter the company's memorandum so that it states that the company is to be a public limited company,
1137:
The following documents, together with the registration fee are sent to the Registrar of Companies:
106:
1277:
with a share capital may re-register as a plc, but a company without a share capital cannot do so.
1009:
875:
748:
502:
474:
328:
301:
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286:
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205:
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486:
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638:
1599:
1385:
943:
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778:
733:
456:
281:
1410:
966:, but since then Northern Irish company registrations, as with those of the rest of the
1326:
967:
900:
891:
863:
35:
1665:
1468:
1057:
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886:
of £50,000 and usually with the letters PLC after its name. Similar companies in the
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157:
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276:
271:
48:
1436:
1452:
1257:
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527:
17:
1521:
1460:
1490:
1389:
1293:
make any required alterations to the articles of association of the company.
1159:
appointed and each subscriber (or their agent) must sign and date the form.
1437:"Active Facebook use and mood: When digital interaction turns maladaptive"
1485:"Companies Bill defines 'insider': legislation is expected by the summer"
1260:
services), which must be sent to Companies House with the annual return.
939:
783:
261:
165:
1008:
A company can increase its authorised share capital by passing an
1287:
increase its share capital to the statutory minimum of £50,000,
1192:
1072:
424:
Charitable incorporated organisation (England and Wales)
42:
1618:"Re-register your private limited company to a plc (RR01)"
1374:. Essex, England: Pearson Education Limited. p. 87.
1012:(unless its articles of association require a special or
899:
A PLC can be either an unlisted or listed company on the
1217:
1097:
1435:Crynikola, Natalia; Miranda, Regina (August 2019).
1269:
Private limited company to a public limited company
73:. Unsourced material may be challenged and removed.
1483:
917:. However, some public limited companies (mostly
1273:Both a private company limited by shares and an
964:Department of Enterprise, Trade and Investment
432:Scottish charitable incorporated organisation
1494:. No. 58969. London, England. p. 15
1206:The examples and perspective in this section
1086:The examples and perspective in this section
831:
8:
1574:"Formation & Company Secretarial Agents"
1522:"Applying to become bankrupt: Restrictions"
1366:Dignen, Sheila; Plier, Julie, eds. (2004).
911:
904:
1656:Companies House guide to company formation
1224:, or create a new section, as appropriate.
1104:, or create a new section, as appropriate.
838:
824:
348:
144:
1240:Learn how and when to remove this message
1120:Learn how and when to remove this message
133:Learn how and when to remove this message
27:Publicly traded limited liability company
1544:"Software Filing software supplier list"
970:, have been handled by Companies House.
1358:
569:
494:
413:
351:
156:
954:. Prior to October 2009, companies in
533:Limited liability limited partnership
448:Industrial and provident society
1580:from the original on 26 December 2013
1576:. Companies House. 19 December 2013.
1554:from the original on 26 December 2013
630:Gesellschaft mit beschränkter Haftung
7:
71:adding citations to reliable sources
1651:Office of Public Sector Information
1372:Longman Business English Dictionary
934:When a new company incorporates in
25:
1532:from the original on 23 May 2023.
1482:Morison, Ian (20 December 1973).
952:Department for Business and Trade
1600:"Companies Act 2006 Section 858"
1197:
1077:
675:Société à responsabilité limitée
164:
47:
1672:Companies of the United Kingdom
58:needs additional citations for
1:
1411:"s. 58(2) Companies Act 2006"
1317:Limited liability partnership
1152:inter-employee relationship.
557:Massachusetts business trust
1441:Computers in Human Behavior
1220:, discuss the issue on the
1100:, discuss the issue on the
744:Piercing the corporate veil
440:Community interest company
415:UK / Ireland / Commonwealth
403:Economic interest grouping
1703:
1682:United Kingdom company law
1658:(archived 12 October 2008)
1337:United Kingdom company law
1174:
960:Northern Ireland Executive
913:cwmni cyfyngedig cyhoeddus
868:United Kingdom company law
513:Limited liability company
29:
1453:10.1016/j.chb.2019.02.012
1312:Limited liability company
1177:Electronic process of law
1141:Memorandum of association
958:were registered with the
924:private limited companies
893:publicly traded companies
724:Internal affairs doctrine
719:and estoppel corporations
1677:Types of business entity
1368:"public limited company"
1307:European Company Statute
1014:extraordinary resolution
942:, it must register with
854:(legally abbreviated to
148:This article is part of
82:"Public limited company"
1322:Private limited company
1148:Articles of association
909:, an abbreviation for
874:jurisdictions, and the
394:Societas unius personae
256:General corporate forms
1005:whole of any premium.
912:
905:
852:public limited company
706:Business judgment rule
1550:. 18 September 2013.
1045:Cumulative preference
650:Naamloze vennootschap
640:Kabushiki gaisha
457:Limited company
1218:improve this section
1208:may not represent a
1098:improve this section
1088:may not represent a
774:Beneficial ownership
711:Corporate governance
547:Delaware corporation
374:Societas cooperativa
67:improve this article
32:PLC (disambiguation)
30:For other uses, see
1010:ordinary resolution
876:Republic of Ireland
789:Corporate registers
749:Rochdale Principles
503:Benefit corporation
329:Sole proprietorship
1647:Companies Act 2006
1604:legislation.gov.uk
1415:legislation.gov.uk
1332:S.A. (corporation)
1171:Electronic process
590:Aktiengesellschaft
562:Nevada corporation
1488:. Business News.
1342:Unlimited company
1275:unlimited company
1250:
1249:
1242:
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1129:
1122:
1069:Company formation
974:Company directors
936:England and Wales
880:limited liability
848:
847:
729:Limited liability
691:
690:
600:Ansvarlig selskap
487:Unlimited company
324:Shelf corporation
319:Shell corporation
307:Limited liability
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948:executive agency
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794:Registered agent
739:Drag-along right
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862:) is a type of
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282:Holding company
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175:By jurisdiction
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1624:. 30 June 2016
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768:Related areas
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1666:Categories
1498:24 January
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1353:References
1264:Conversion
1258:WebFilings
1175:See also:
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1039:Preference
988:companies.
878:. It is a
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