Solicitors and the Court Applications that clients will want to know about in 2018!

Solicitors and the Court Applications that clients will want to know about in 2018!

The Rules of the Superior Courts and the Companies Acts set out the practice and procedure to bring over 200 court applications under the Companies Act 2014. The Top 10 Applications are as set out here below: 

  1. The Section 212 Shareholder Dispute Remedy
  • Formally Section 205 of the Companies Act 1963
  • The Practicalities
  • The Procedural Requirements
  • Format and Content of the Application
  • The Proofs, The Rules
  • Latest Case Law
  • Costs of the Application

 

  1.  The District Court Application to waive CRO late filing fees
  • Key prediction, this will be a hugely “asked for” application in 2018
  • More company directors will be prosecuted in 2018 for non-compliance

 

  1. Restoring a Company to the Register, The Creditor & Company Application
  • Thousands of Companies Have Already Been Struck off the Register
  • Particularly Relevant in Debt Collection Cases
  • Property Management Company Cases, The Need to Restore
  • An A-Z on How to Perfect This Application
  1. Discovering the Beneficial Owners of Companies
  • New Regulations from Brussels
  • Invoking Your Statutory Remedies
  1. The Section 797 Application, Making Companies Compliant
  • Applicable to over 500,000 Company Directors and over 200,000 companies
  • Drafting the 14 Day Warning Notice
  • The Rules of the Superior Courts
  • Relevant Case Law
  • The Section 797 Application in Debt Collection Cases
  1. Defending a Section 819 Restriction Application
  • Formally the Section 150 Application
  • Relevant Case Law, The Role of the ODCE
  1. Defending a Section 842 Disqualification Application
  • Formally the Section 160 Application
  • Total Prohibition on Acting as a Director or Manager of any Company Whatsoever
  1. The Winding up Petition
  • The 21 Day Warning Letter
  • The Statutory Definition of Insolvency
  • Practice and Procedure in the High Court
  1. Property and Apartment Management Company Disputes
  • The Circuit Court Application
  • Utilising Remedies in the Multi-Unit Developments Act 2011
  • Transferring the Common Areas to the Management Company
  • The New Mediation Act 2017
  • The Section 14 Obligation for Solicitors & The Section 15 Obligation for Barristers, Fees and Costs
  1. Great Debt Collection Remedies in Company Law
  • Discover highly effective debt collection remedies in company law and the rules of the Superior Courts to maximum advantage
Latest Companies Bill 2017, published Monday, 6th November 2017

Latest Companies Bill 2017, published Monday, 6th November 2017

It’s all about to change Again!

Two new 2017 Companies Acts were already enacted here in June 2017 !

The Companies Act 2014 will now be amended by the LATEST new Companies (Statutory Audits) Bill 2017, published in the Oireachtas on Monday, 6th November 2017 and heading towards a Spring 2018 enactment and commencement into law.

Company directors will then need to be aware of the statutory provisions found in the new Company Law Rulebook comprising:

  1. The Principal Act, the Companies Act 2014
  2. Companies (Accounting) Act 2017,
  3. Companies (Amendment) Act 2017,
  4. Companies (Statutory Audits) Bill 2017
Advising Clients on the New Registers of Beneficial Ownership

Advising Clients on the New Registers of Beneficial Ownership

Most Irish companies are totally oblivious to the new EU Regulations requiring them to maintain Registers of Beneficial Owners, to keep that information on a specific register and then arrange for it to be transmitted directly, electronically, into the new Central Registry, which will be situated at the Companies Registration Office in Dublin. However, because it’s not a company law requirement, this information will be stored on a completely separate register to that maintained by the Registrar of Companies.

The new requirement to file this information in the Central Registry is coming here in Early 2018! It’s mandatory and most importantly it’s been a legal requirement here since 15th November 2016 and it’s inevitable that the softly softly approach presently adopted is guaranteed to change later next year. Expect more by way of enforcement, sanction and even spot checks on companies by officials from the anti-money-laundering units associated with the Department of Finance and the Department of Justice!

Accordingly, all companies need to review their position and if necessary Regulation 6, 8 and 10 Notices need to be prepared immediately and dispatched to the relevant members of the Company. These new regulations also apply to companies limited by guarantee, Co-Op’s and Industrial and Provident Societies.

 

The District Court Application to waive CRO late filing fees

Most Company directors still don’t appear to be aware of the two great benefits that follow from a successful application to the local District Court to extend the date for the filing of an annual return that’s late!

The No.1 advantage is that the company gets to keep its very valuable audit exemption and now that audit exemption is available to “small companies” with annual turnover sales below €12 million. Audits have just got a lot more expensive and complicated and the latest Companies (Statutory Audits) Bill 2017 will bring even more formality to the table !

Irish companies have paid millions over the years in late filing fees and a successful application means that the late filing penalty of up to €3, 600 is waived.

The application can be made in any local District Court where the registered office is situated. However, that is liable to change with new proposals in the new Companies Bill 2017 to require this application to be brought in the High Court.

COMPANIES (ACCOUNTING) ACT 2017, FULLY PASSED !

It’s all about to change!

Two brand-new 2017 Companies Acts are expected to be enacted here in May.

So much for the notion that we would have one easy to read Companies Act 2014!

The Companies Act 2014 will now be substantially amended by the LATEST new Companies (Accounting) Act 2017, NOW passed and the new Companies (Amendment) Act 2017, already passed by Seanad Eireann and heading for the final stages in May 2017.

Details of yet another new Companies Bill 2017 have also been published and it looks like we will have a fourth new Companies Act by the end of the year.

Company directors will then need to be aware of the statutory provisions found in the new Company law Rulebook comprising:

  • The Principal Act, the Companies Act 2014
  • Companies (Accounting) Act 2017,
  • Companies (Amendment) Act 2017,
  • Companies (Statutory Audits) Bill 2017

 

Register of Beneficial Owners, New 26th September 2017 Filing Deadline

Register of Beneficial Owners, New 26th September 2017 Filing Deadline

The poor old Irish company director will be really bamboozled this year with a host of new EU Regulations requiring them to maintain Registers of Beneficial Owners, keep that information on a specific register and then arrange for it to be transmitted directly, most likely electronically, into the new Central Registry, which will be situated at the Companies Registration Office. However, because it’s not a company law requirement, this information will be stored on a completely separate register to that maintained by the Registrar of Companies.

The new requirement to file this information in the Central Registry is coming here on 26th June 2017! It’s mandatory and most importantly it’s been a legal requirement here since 15th November 2016 and it’s inevitable that the softly softly approach presently adopted is guaranteed to change later this year. Expect more by way of enforcement, sanction and even spot checks on companies by officials from the anti-money-laundering units associated with the Department of Finance and the Department of Justice!

Accordingly, all companies need to review their position and if necessary Regulation 6, 8 and 10 Notices need to be prepared immediately and dispatched to the relevant members of the Company. These new regulations also apply to companies limited by guarantee, Co-Op’s and Industrial and Provident Societies.

 

Blueprint OneWorld is the world’s leading global company management and corporate governance software. This Software helps keep track of filing deadlines, generates e-filing forms, and also keeps a detailed register on all company, director and shareholder changes. Find out more at https://thecompanyshopsoftware.ie/welcome/blueprint-oneworld/