UK plc Statutory Requirements 

Legislation concerning a UK Public limited company (PLC) - the company's shares may be offered for sale to the general public. The offer document must be drafted in compliance with UK legislation and a copy submitted to Companies House. 

Before a UK plc 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 newly formed PLC must not begin business or exercise any borrowing powers until it has a certificate issued from Companies House under section 117 of the Companies Act 1985 confirming that the company has issued share capital of at least the statutory minimum.

A PLC must have at least two members 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 of the Secretary according to the Law.