The Public Limited Company registration, first of all, requires a minimum composition of 7 members and 3 directors. However, the maximum number of directors can be 50, and the maximum number of members is unlimited for the registration of public limited company. The PLC also has limited liabilities for its members and has rights to issue its shares to the general public for raising the capital of the company. For the purpose of public ltd. company registration, the company which is a subsidiary of a public entity shall also be deemed to be public even where such subsidiary company continues to be a private company in its articles.
Section 2 (71) defines a public company under Companies Act 2013, as a company which is not a private company and has the minimum paid-up capital of Rs 5 Lakhs. A PLC is owned by the members which must be minimum 7 in number. Moreover, all the acts of members of the public entity are guided by the Memorandum of Association (MOA) and Articles of Association (AOA).