The new Companies Act, 2014 is in effect since 1 June 2015 - so what does that mean for you and your company?

Unless there is a specific reason (tax, compliance etc.,) it is likely that your company, if a company limited by shares will convert to the new limited company.
The conversion process is completed by passing a Special Resolution (requiring a 75% + majority of the shareholders) and filing Form N1 with the Companies Registration Office together with a copy of your new "Constitution". We can provide this service for you.

  • Your company will no longer have an objects clause

  • If so desired the company may have just one director (but must have a separate secretary)

  • Your company can have just one member (shareholder)

  • An existing director who is under 18 must resign immediately (all directors have to be aged over 18 years)

  • You may also dispense with holding an Annual General Meeting

For more information on the Companies Act 2014 please contact us.

DUTIES AS A COMPANY DIRECTOR:

  • Fiduciary duties

  • Statutory duties

  • Duty to keep adequate accounting records

  • Duty to prepare financial statements (annual accounts)

  • Duty to maintain certain registers and other documents

  • Duty to file documents with the Companies Registration Office

  • Duty of disclosure

  • Duty to convene general meetings of the company