Not just a tongue twister! The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024
Not quite sure this is the type of Christmas present I wanted to receive from an outgoing Minister in the wind-down (or is it wind-up) to Christmas!
Tuesday 03.12.2024 saw the commencement of possibly the longest named Act ever! The above Act was commenced on 03.12.2024 and will give effect to 64 of the Act’s 90 provisions amending the Companies Act 2014.
A flavour of some of those 64 provisions are listed below.
- Provision for the conduct of, and participation in, general meetings of a company or industrial and provident society by the use of electronic communications technology.
- Provision to provide for additional grounds for involuntary strike off of companies.
- Provision for the disapplication of the Probation of Offenders Act 1907 to an offence under section 343 of the Companies Act 2014.
- Provision for an offence of obstructing, interfering with or impeding an officer of the Corporate Enforcement Authority.
- Make certain amendments to the rescue process for small and micro companies.
- Enable the Irish Auditing and Accounting Supervisory Authority to issue an interim direction in certain circumstances.
- Extend the list of competent authorities to which the Corporate Enforcement Authority may disclose information, books or documents under section 792 of the Companies Act 2014.
- Enable specified bodies to disclose information to the Corporate Enforcement Authority under section 944Q of the Companies Act 2014.
- Enable the Irish Auditing and Accounting Supervisory Authority to use money paid into the reserve fund in accordance with section 919 of the Companies Act 2014 in the performance of its functions under section 934 of that Act.
- Repeal certain provisions of the Companies Act 2014 and the Industrial and Provident Societies Act 1893.
I will blog on what some of these changes mean in real life in January 2025. Something for us all to look forward to in the New Year!