As well as those mentioned above, the Bill also provides for some technical changes to the Companies Act 2014. The Bill includes small changes to the existing Schedule 3 of Companies Act 2014 which deals with the accounting principles, format and content of financial statements. Examples of changes include: no need for a comparative fixed…
The Bill proposes to abolish ‘non-filing structures’ in their current form for Irish unlimited companies by expanding the definition of designated ULCs to include additional corporate structures. Section 76 of the Bill expands considerably the definition of ‘designated ULC’ in section 1274 of the Companies Act 2014[1], bringing more unlimited companies within the requirement to…
Once the micro company definition has been met, then that company qualifies for the micro companies regime. Once the company applies the micro companies regime, it must then apply the financial reporting standard ‘FRS 105’. FRS 105 cannot be applied currently as the micro companies regime is not included in existing company law. FRS 105…
Once the small company definition is met, then that company can qualify for the small companies regime, which does not currently exist in Irish law. This will allow companies to adopt Section 1A of FRS 102, which cannot currently be adopted by Irish companies. Section 1A of FRS 102 requires the financial statements to be…
The Bill provides for an increase in the current size thresholds for small and medium companies together with the introduction of thresholds for a medium group and micro company thresholds. See the existing and new proposed thresholds below: The Bill also provides for a reduction in size criteria for holding companies exempt from preparing consolidated…
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Part 1 of the Act deals with the usual interpretation and commencement of the Act. Section 6 deals with service of documents, it provides that service can be satistified by one of the following means: by delivering it to the person by hand, by leaving it at the usual address of the ordinary residence of…...
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In Summary The dispute resolution system in employment cases had become overwhelmingly complex for all involved. The adjudication section of the Act is the most significant, and brings in the most far ranging changes to the current system. ...
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The most wide sweeping changes to the resolving of employment disputes are contained in Part 4 of the Act. ...
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Inspectors Section 26 provides for inspectors to be appointed and Section 27 gives these inspectors broad powers to enter places of employment and to inspect and/or remove documents, books and records. Further an inspector can require any person at the premises to give information and or assistance and also to make a declaration of truth…...
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