Companies Bill 2024 – Signed In By President

Cover Image for Companies Bill 2024 – Signed In By President

| Sinead Gortland

On 12th November, the President signed into law the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill 2024.

However, this does not mean that the areas of the Bill have commenced or that the features of the Bill are in place yet. It is however expected they will commence quickly.

The Bill contains provisions amending the Companies Act 2014 relating to:

Corporate governance

Improvements will include procedural and legislative changes to the Act that arise primarily from practical problems that have arisen.

Company law enforcement and supervision

A significant development in the Bill is enriching the powers of the Corporate Enforcement Authority (CEA), the Irish Auditing and Accounting Supervisory Authority (IAASA) and the Companies Registration Office (CRO) by streamlining procedures, facilitating administrative efficiencies, and strengthening reporting requirements.

Company law administration

Administrative processes overseen by the Registrar of Companies are slated for enhancement to ensure the register remains suitably equipped as well as modernising certain administrative requirements for companies.

Corporate insolvency

The Bill seeks to enhance regulation with regards receivership and proposes amendments to SCARP.

We await details of its commencement. 

The contents of this article are meant as a guide only and are not a substitute for professional advice. The author/s accept no responsibility for any action taken, or refrained from, as a result of the material contained in this document. Specific advice should be obtained before acting or refraining from acting, in connection with the matters dealt with in this article. The information at the time of publishing was accurate and could be subject to final changes.

Image of Sinead Gortland

About the Author

Sinead is a key member of the OmniPro Corporate Consultants Technical Support team providing advice and support in relation to Company Law and Company Secretarial procedures. In addition, Sinead is responsible for carrying out Section 343 applications to the District Court, Company Restorations, Annual Compliance, Company Conversions and Company Law Compliance. Sinead joined OmniPro in 2016 and quickly became an integral member of our Company Secretarial team. She started off her career in OmniPro as part of our Company Formations team building up her experience and knowledge before eventually moving into Company Secretarial. Sinead has a Masters Degree from Maynooth University.

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