Companies Act 2014 section 1248

Application of section 68 to PUCs and PULCs

Section 1248 restricts Public Unlimited Companies (PUCs) and Public Unlimited Companies without share capital (PULCs) from listing or trading their securities on any market, while allowing an exception for debentures.

PUCs and PULCs are prohibited from applying to have their securities (or interests in them) admitted to trading or listed on any market, whether regulated or not, in Ireland or elsewhere.
They are also prohibited from actually having their securities (or interests in them) admitted to trading or listed on any such market.
An exception exists for debentures: PUCs and PULCs may apply for, and have, their debentures (or interests in them) admitted to trading or listed on any market.
The debenture exception only applies where the purpose falls within one of the permitted purposes set out in section 68(3).

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