On Monday, 1st June 2014 all of the 17 Companies Acts 1963 to 2013 will be binned and in comes the brand-new 1448 sections of new law in the Companies Act 2014 and with it also comes 159 new CRO statutory forms.
Every form in the CRO is changing.
The new B1, Annual Return Form is on average 12 pages long and includes four full pages of small print detailed notes on the proper completion of the Form B1, which are required to be read in conjunction with the relevant sections of the Companies Act 2014.
There are six different tick box options with regard to the type of financial statements attached!
Old-timers used to filling in the old annual return Form 6A with the companies registration office will be completely mesmerised with the amount of detail required here with new entries to be completed for the dormant or small company audit exemption and filling in the details for the new Registered Person pursuant to Section 39 of the new 2014 Act will be a challenge for the uninitiated!
Not to worry, the new information leaflet from the CRO comprehensively deal is when all aspects of completing the annual return with regard to all your requirements, including audit exemption what this document alone stretches to nearly 40 pages!
The new form B42A is brand-new, this notifies the Registrar of Companies of the rectification of the register of members.
The new B10a is also brand-new and will be extremely useful for company secretaries changing directors residential address particulars in relation to multiple companies.
The new B1X permits the statutory notification of the voluntary revision of defective financial statements for the first time also.
Hopefully we should hear from the minister. Shortly exactly when he intends to sign the relevant statutory instruments giving effect to the creation of all these new statutory forms and confirms absolutely that everything is being commenced here on Monday, 1 June 2015.
This needs to be done sooner rather than later as without this very important statutory instrument old versions of the forms can only be used up to 1st June 2015 and the new versions of the statutory forms need to be in circulation well before that date so that they can be completed in preparation for filing after the commencement date.