Companies Act 2014

In short

This law, the Companies Act 2014, sets out the rules for how companies are formed, operated, and managed in Ireland. It covers everything from how a company is registered to the duties of its directors and how its finances are handled.

What it regulates

• The process of forming and registering a private company limited by shares.
• The capacity, authority, and contractual arrangements of companies.
• Rules regarding share capital, the issuance and transfer of shares, and distributions of profits.
• Corporate governance, including the appointment, duties, and responsibilities of directors and secretaries.

Who it concerns

• Individuals and entities looking to form or currently operating a private company limited by shares in Ireland.
• Directors and secretaries of such companies.

Key points

• The Act is structured to facilitate its use in relation to the most common type of company, which is a private company limited by shares.
• A company must carry on activity in the State and certain activities are prohibited.
• Companies must have a director resident in an EEA state, with exceptions for companies having a real and continuous link with economic activity in the State.
• There are limitations on the number of directorships an individual can hold.