Ireland: company law reform update

The Department of Enterprise, Trade and Innovation has recently published the Company Law Review Group annual report for 2009: see here (pdf). In his letter at the start of the report, the CLRG chairman provides this update on the drafting of the Companies Bill:

It is understood that the new Bill is unlikely to be published before the end of 2011 and although it is disappointing that the process is taking so long, it is, I believe more important that it is done properly. The Bill is likely to be the largest single enactment in the history of the State and whilst company law in Ireland is no less complex than it is in the United Kingdom the reality is that the State’s resources are fewer and have been stretched even further by the work needed on two Companies Bills prepared in 2009 as well as a significant number of complex legislative enactments addressing the crisis in Irish banking".