Company Law Issues
The passing of the Companies (Amendment) (No. 2) Act 1999
and the Companies Act 2001 has resulted in greater
responsibility on Directors to ensure compliance with
Company Law. Briefly, these acts have resulted (among other
items) in the following:
- Provides for the appointment of a Director of
Corporate Enforcement
- Extends the restriction and disqualification
provisions of the Companies Act 1990 regarding company
officers
- Amends existing insolvency legislation to try to
prevent "Phoenix" companies arising from the ashes of
insolvent companies which cease trading
- Introduces a specific date in each year by which a
company must file its annual return. For existing
companies, this "ARD" is the anniversary of the date to
which the most recent return was made up. For new
companies, the first ARD will be six months after the
date of incorporation (accounts not required).
Subsequent ARDs will be made up to each anniversary of
the first ARD. The Registrar will levy fines for late
returns
- Amends the 1990 Companies Act to allow the Director
to enforce compliance of auditors with their statutory
obligations - particularly to force auditors to report
suspected breaches of the companies acts
- Limits further the scope of company directors to put
their own financial interests above those of their
company
More information relating to these acts can be found on
www.cro.ie
and www.odce.ie.
The following links are to documents that all company
directors/secretaries should be aware of. These, and more,
documents can be found on the
Companies
Registration Office Website.
PDF Documents
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