Key differences between private and public companies—checklist


Published by a UUÂãÁÄÖ±²¥ Corporate expert
Checklists

Key differences between private and public companies—checklist


Published by a UUÂãÁÄÖ±²¥ Corporate expert

Checklists
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When incorporating a limited company, consideration should be given as to whether the company should be public or private. The Companies Act 2006 (CA 2006) takes a 'think small first' approach and assumes that private companies are smaller than public companies. This means that the CA 2006 generally applies the basic, more simple requirements and procedures to private companies and imposes further additional requirements and procedures on public companies.

The following table summarises some of the key differences in the requirements and procedures applying to private and public (unlisted) limited companies.

Requirement/procedurePrivate companyPublic companyReference
Minimum number of directors12CA 2006, s 154
Requirement for a company secretaryNoYesCA 2006, ss 270, 271
Company secretary—requirement for qualificationsNoYesCA
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United Kingdom
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