Introduction (Corporate governance)

Part 4 – Corporate Governance Corporate Governance is dealt with in Part 4 of the Act. Some of the most significant changes to company law in Ireland can be found here. Among the most noteworthy are:   A CLS may have one director only. Directors must be 18 years old and above. AGMs can now…...

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Form of Registers & Inspection of Registers, Etc.

Part 4 – Corporate Governance Section 213 deals with the keeping of registers, minutes, and so on. If the records, etc, are kept electronically, the Act states that “adequate precautions” should be taken to prevent falsification. Failure to do this can leave an officer open to a €5,000 fine or 6 months in prison. The…...

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Protection for Minorities

Part 4 – Corporate Governance Remedy in case of oppression “A Section 212” will be the new shorthand for applications relating to Oppression and Disregard of Interests. There is only one new element in this area: now the courts are empowered by statute to award compensation. This was not allowed under the old Section 205,…...

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The Summary Approval Procedure (New)

Part 4 – Corporate Governance A number of different validation procedures had grown up in company law. It was felt that one would be enough, and could be adapted to all relevant situations. Thus, the Act introduces the new Summary Approval Procedure. Practitioners, however, will recognise it from the Section 60 of 1963, and Section…...

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Members

Part 4 – Corporate Governance Rules on members In general, the rules on members remain the same. The salient points are as follows: Anyone who subscribes to a company’s constitution is deemed to have agreed to become a member of that company. When the company is registered, their names are entered on the register of…...

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Proceedings of Directors

Part 4 – Corporate Governance All the rules in the sections that follow – Sections 157 to 167 – come from the old Model Regulations, which were found in the First Schedule to the 1963 Act. The 2014 Act states that these rules apply unless the company’s constitution says otherwise.    ...

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