Incorporation
A Public Limited Company (PLC) under the Companies Act 2014 retains much of the prior framework but introduces significant changes, including a reduced minimum capital requirement of €25,000. A PLC must have a memorandum and articles of association forming its constitution, with an objects clause. Although a PLC’s acts cannot be invalidated due to lack of capacity under its objects, members can seek to restrain ultra vires actions. A PLC requires two directors and cannot commence business without a certificate of incorporation and proof of minimum capital compliance.