Companies Act, 1963

In short

This law, the Companies Act, 1963, sets out the rules for how companies are formed, run, and dissolved in Ireland. It covers everything from how a company is created to how it manages its finances and interacts with its members.

What it regulates

• The process of forming and registering an incorporated company.
• The rules governing a company's share capital and debentures.
• The registration of charges (like mortgages) created by companies.
• The management and administration of companies, including their registered office and member records.

Who it concerns

• Individuals forming or involved with incorporated companies.
• Existing companies registered under this Act.

Key points

• A company is formed by one or more persons subscribing their names to a memorandum of association.
• The memorandum and articles of association must be registered for a company to be incorporated.
• Companies can alter their memorandum and articles, but certain changes, like increasing a member's liability, require consent.
• There are specific rules for "private companies," including limits on the number of members (fewer than seven, or two for a private company).