The Companies Bill 2012 Published

Author:Mr Patrick Spicer, George Brady, Deirdre-Ann Barr, Alan Chiswick, Fergus Bolster, Pat English, Robert Heron, Darren Maher, Robert O'Shea, Tim Scanlon and Stanley Watson

The Irish Government has today published a complete draft of the proposed new Companies Bill (the "Bill"), which, when enacted, will consolidate and reform existing Irish company law. This follows the publication in 2011 of an initial draft of parts 1 to 15 of the Bill which dealt exclusively with the private company limited by shares (or "CLS"). The Bill contains updated provisions in relation to the CLS, reflecting recommendations arising from an on-going consultation process led by the Irish Company Law Review Group ("CLRG"). It also contains the law applicable to all other company types, such as the public limited company, guarantee companies, designated activity companies and unlimited companies.

Matheson has been actively involved in the progression of this new legislation which has been led primarily by the work of the CLRG (of which Deirdre-Ann Barr, a Matheson partner, is a member). We have also been proactive in our submissions and consultations on the new provisions. We have placed a particular emphasis on those issues we have discussed with many of our clients and which often have a critical bearing on the feasibility of various strategies or restructurings that have been undertaken in the...

To continue reading