1. Must have held the office of secretary for a period of three to five years in a public company, or

2. 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 Association of Chartered Certified Accountants; The Chartered Institute of Management Accountants; or The Chartered Institute of Public Finance and Accountancy, or

3. By virtue of their previous experience, is someone who the company directors believe to be capable of discharging their duties as secretary, or

4. Is a barrister, advocate or solicitor licensed to practise law in any part of the United Kingdom.

A Public Limited Company has the right to issues as many shares as it wants, and with different conditions associated with each class of shares. Among the share types that can be issued by a PLC are bearer shares, cumulative preference shares, ordinary shares, preference shares, and redeemable shares. Some, like bearer shares, are legal instruments denoting ownership in the company while others, like preference shares, give the share owners the right to receive annual dividend payments before owners of other share classes.

A PLC is required to file their annual tax accounts with the Registrar of Companies and the Inland Revenue in the statutory time required for filing or risk facing civil penalties. Audit and account filings must include a report from both directors signed by a director or the company secretary; a balance sheet bearing a director's signature; a profit and loss statement; and any additional notes explaining the accounts.

Finally, a Public Limited Company must have a registered office maintained in the United Kingdom. BA Global Associates can help with every step of setting up and running a PLC in the UK, from arranging a registered office for your business to dealing with the accounts and yearly tax accounts. Our team of London based tax professionals are on hand to ensure everything goes smoothly so you and your partners can spend less time worrying about administrative tasks and more time focusing on your core business.