(1) A PLC may be formed for any lawful purpose by any person or persons subscribing to a constitution and complying with the relevant provisions of -
(a) Chapter 2 of Part 2, as applied by this Part, and
in relation to registration of a PLC.
(2) Without prejudice to the means by which a PLC may be formed under the relevant provisions referred to in subsection (1), a company may be registered as a PLC by means of -
(a) the re-registration, or registration, as a PLC of a body corporate pursuant to Part 20 or 22,
(b) the merger of 2 or more bodies corporate pursuant to Chapter 16,
(c) the division of a body corporate pursuant to Chapter 17, or
(d) the merger, conversion or division operation provided for by the European Union (Cross-Border Conversions, Mergers and Divisions) Regulations 2023 (S.I. No. 233 of 2023).
(3) The liability of a member of a PLC at any time shall be limited to the amount, if any, unpaid on the shares registered in the member's name at that time.
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