Whilst many of the key features of all companies limited by shares are similar (separate legal personality, limited liability, etc), the public limited company is distinguished by (1) a minimum issued share capital of not less than £50,000 (CA 2006, s 763(1)), (2) a rule that not less than a quarter of the nominal value and the whole of any premium payable on shares issued by a PLC must be paid up on allotment (CA 2006, s 586), and (3) the fundamental fact that shares may be offered to the public.
A public limited company must have at least two directors (CA 2006, s 154(2)), and a company secretary (CA 2006, s 271).
The name of a public company must include the words 'public limited company' or 'plc' (or the Welsh equivalents) (CA 2006, s 58).