Wednesday, 24 April 2013

Ireland: company law reform - second stage debate for Companies Bill

Last December the Companies Bill 2012 was introduced in the Dáil Éireann. Yesterday the Bill was debated at second stage: see here. The Bill consolidates the existing 16 Companies Acts, dating from 1963 to 2012, into a single Act as well as introducing reforms including the codification of directors' duties and permitting a private company limited by shares to be formed with one director. According to the press release published by the Department of Jobs, Enterprise and Innovation last year, the Bill is the "largest substantive piece of legislation in the history of the State". A copy of the Bill is available here (pdf, 8.8MB) or in separate parts: 1 to 15 (pdf, 6.7MB) and 16 to 24 (pdf, 2MB). An explanatory memorandum is available here (pdf, 1.5MB) and a much shorter press release, highlighting some of the changes being implemented, is available here. The Bill's progress can be followed here.

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