Law & Regulation
Companies Amendment Bill 2009
By
Jul 14, 2009 - 9:37:19 AM
The Companies Amendment Bill 2009 has been
passed through all stages of the Oireachtas. The entire Act will take effect as soon as it has been signed by the President.
Section 10 of the Act changes the requirement that at least one of the directors be resident in the State. For this purpose the "State" has been changed to "Member State of the EEA" (European Economic Area). The EEA is all of the EU plus Iceland, Norway and Liechtenstein.
That means that a company all of whose directors are resident in, say, the UK, will not require a bond or certificate of a real and continuous link with one or more activities in the State.
The necessary changes are currently being made to both the online and downloadable forms.
Crodisk users, were necessary on the A1 form, should cross out "Irish" and replace with "EEA".
When the Companies Amendment Bill 2009 has been signed by the President, it will have the effect of changing the citation of the Companies Acts to "1963 to 2009". This citation should henceforth appear on all
copies of Memoranda and Articles of association filed with the CRO.