A company may allot new shares to the existing shareholders or to a third party. These shares can be from the existing share class or by creating a new share class.
Alteration of Constitution The Conversion Deadline Has Passed…. So what now? The Companies Act 2014 was introduced on 1st June 2015 and it replaced the Companies Acts 1963-2013. As well as consolidating the previous legislation it also sought to simplify procedures and introduced changes in practices. With the transition period now well and truly behind
Are you a new start up or setting up a new company? If so setting up a company is the first and important step. Getting the company set up quickly but more importantly correctly will ensure you are on the right step to running your new business.
One of the most common questions we are asked is the difference between an LTD and a DAC. Most of the confusion is that people think a DAC is the new company type but actually it is the closest thing to an LTD company. As you can see in the chart below it requires 2
Every company is required to carry out an activity in the State. Depending on the company type this activity must be provided for in the company constitution. An LTD company has the capacity of a natural person so it does not require to have a principal objects clause in its constitution. All other company types,
Removal of a Director In recent years we have seen a number of high profile companies at which resolutions have been put forward by shareholders to remove directors from the board. We have also seen a noticeable increase in queries and engagements to remove directors from SME companies. There are various reasons for this mainly
After a number of significant proposals in the committee stages, the Companies (Statutory Audits) Act 2018 has not changed the ability of companies who are late in filing an annual return to apply to the District Court to retain the audit exemption and avoid paying late filing penalties. When the Bill was introduced, it was
It was good while it lasted but all good things come to an end at some stage and CRO have brought an end to the get out of jail card for filing late returns. From 1st April 2018, B1’s will be automatically rejected where the B1 signature page or overall certificate is not signed; or
Every January we set out ten points to consider from a company law and company secretarial practice perspective. These are the points we see practitioners having issues with but never get around to putting policies in place to ensure they don’t happen or changes that should be considered by your clients. Electronic Filing & PDF
CRO got a reaction they were probably hoping for when they sent out their email on 12th October 2017 announcing “CRIMINAL PROSECUTIONS HAVE BEEN COMMENCED “. A lot of directors and presenters started asking “what was the chances of them or their companies being prosecuted by the CRO?” Even the title of the email was