The commencement of the new Companies Act is planned for 1 June 2015. All companies must therefore consider the steps to take so as to align their structures with the new legal regime.
Our Corporate Law Department has put together the resources on this page as an introduction the Companies Bill and the steps that companies may need to take to prepare for its enactment and commencement.
The Companies Act 2014 is the culmination of a work programme commenced by the then Department of Enterprise and Employment in 1999, with the establishment of a company law consolidation project. The following year the Company Law Review Group (CLRG) was established on a non-statutory basis, being put on a statutory footing by the Company Law Enforcement Act 2001, Part 7. Click here to access all the CLRG reports.
The Companies Act will repeal more than two dozen statutes, effectively, the entire of the Companies Acts 1963 to 2013, with the exception of EU-derived securities law, and will consolidate them in a single statute.
For the most part, the Companies Act simply restates the existing law without changes. However, the Act is also a reforming statute which contains streamlining reforms in areas such as governance, legal capacity and mergers.
Unlike previous consolidations of company law, the Companies Bill requires existing private companies to take an active step after enactment to prepare a new-form constitution and elect either to re-register as a designated activity company or to register (or be deemed to register) as a new-form private company limited by shares. The resources presented here set out the steps that need to be taken and the options for transition.
Click here for the Companies Bill (as originally initiated in 2012).
Click here for the Companies Bill (as amended at committee stage in 2013).
Click here for the official Explanatory Memorandum.
Click here for our ezine of January 2014 which covers what companies need to do to prepare for the enactment of the Companies Bill.
Click here for our ezine of 21 December 2012 which highlights 10 key changes that the Bill will bring to Irish company law.
Click here to access all current EU company law Directives.
Click here for our FAQs on how to prepare your company for the enactment of the Companies Bill.