We have a group of companies with one of the companies in the group is regulated by the Central Bank. Can the rest of the group avail of audit exemption? One of the most welcome provisions of the Companies Act 2014 was the introduction of group audit exemption. Sec 359 provides that a small group
Section 633 of the Companies Act 2014 (“2014 Act”) introduced mandatory qualifications for persons undertaking work in relation to the winding up of companies. For the first time in Irish law, there are now minimum requirements for those wishing to act as liquidators in the context of corporate insolvency. In summary, the categories of those
Conor Sweeney outlines the important changes affecting the role of Company Secretary following the implementation of the Companies Act 2014. All the Company Secretaries in Ireland breathed a huge sigh of relief when the CLRG recommended to retain the requirement to have a Company Secretary and instead removed the need for a second director for
One significant new requirement in the Companies Act 2014 is the requirement for all loans to or from a company to be approved in writing. This is something directors and business advisor must now be aware of and ensure that the terms of all loans are in writing. Any loans that are in place prior
We are due to hold an EGM to amend our constitution. What is the difference between an ordinary and special resolution? Resolutions are decision taken by the members and directors and must be passed in accordance with the constitution and the Companies Act 2014. The Act defines both ordinary and special resolutions of members (shareholders)
The rules regarding members meetings are contained in Part 4 Corporate Governance of the Companies Act 2014. These meetings are important as the directors do not hold all the powers of a company and certain decisions must be referred back to the members for approval. Before an AGM or EGM is convened, the constitution of
The legislation regarding loans and transactions between companies and directors is contained in Volume 1 Part 5 Duties of Directors and Other Officers. The main sections are 219, 220, 236 – 248. The main legislation is below and you can click here for access to the full section from the Companies Act 2014. FRS102 should
If you had to identify, in one word, the reason why the human race has not achieved, and never will achieve, its full potential, that word would be “meetings.” ~Dave Barry, “Things That It Took Me 50 Years to Learn The world of business seems to be obsessed with meetings. Meetings do have their usefulness