11 January 2013

Irish Company law for the 21st century - Company Bill 2012

There is enormous change coming down the line for Irish company directors and secretaries in the form of the monstrous Companies Bill 2012, which is awaiting enactment as is available to download here.

The bill aims to modernise Irish company law by consolidating 16 different companies acts from 1963-2012 and to bring Irish company law up to date and more in line with our UK cousins.

Highlights include: One Director companies, New constitution replacing memorandum and articles, New types of companies (DAC's or designated activity companies), Greater powers to pierce the corporate veil and much more...

There will be a transition phase which require hundreds of thousands of Irish companies to take action, and Nolan & Associates will bring you more information on how to deal with these changes over the next couple of months..

A summary of key provisions is available on the Companies Registration Office website here. http://www.cro.ie/ena/draft-companies-bill.aspx

Pillar A - main company law and Pillar B for apartment management companies and charities.

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