minimum capital

minimum capital
A private company need not have a minimum amount of paid up share capital. A public company may not trade unless it has issued share capital of at least ₤50,000. The issued shares do not have to be fully paid up at the outset but at least 25% must be paid up. Once the minimum capital is achieved, the company can obtain a trading certificate from the Companies Registry. (Sections 11 and 117 of the Companies Act 1985).

Easyform Glossary of Law Terms. — UK law terms.

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