Provisions of New Companies Act Will Impact Business at Many Levels…Shannon Chamber Briefing to Explain How

The new Companies Act 2014, which is expected to come into effect in June will repeal all existing company law statutes and provide a consolidated and current company law code for all users – companies, directors, professional advisors and shareholders.

 

The features of the new Act will be outlined by Grant Thornton’s partner in charge of Company Secretarial Compliance, Jillian O’Sullivan, and her specialist team at a Shannon Chamber briefing on Thursday, 30 April, at Bunratty Castle Hotel, commencing at 7.45am.

 

During the one-hour presentation, the Grant Thornton team will give an overview of the main provisions of the Act, the accounting changes required under the Act, and how it will affect company directors, at a duty and responsibility level.

 

Some features of the Act outlined below will be explained in detail:

  • The removal of the need for a ‘physical’ Annual General Meeting (AGM) with shareholders’ approval.
  • How single director companies will be permitted once a separate company secretary is appointed.
  • How offencesfor breaching the companies act will now be ranked.
  • How changes to the definitions of a Small & Medium Sized Company (SME) have changed.
  • Thereplacement of the Memorandum & Articles of Association by a ’Constitution’ document.
  • That directors of a business must be 18 years or older.

 

Commenting on the event, Shannon Chamber’s chief executive Helen Downes said: “We are delighted to once again be teaming up with the Grant Thornton team of experts on an issue that affects every business. It’s so imperative for companies to be aware of the changes and for directors to know their obligations, requirements and rights  under company law. It is such a critical topic to be conversant with and we hope that all of our member companies will send a representative to this briefing. Non-member companies are also most welcome. While the floor will be open to questions, attendees can meet the presenters on a one-to-one basis after the briefing if they so wish.”

 

Admission to the breakfast briefing is free. For further information or to make a booking contact Shannon Chamber at 061 708341/360611; email: admin@shannonchamber.ie or book online at www.shannonchamber.ie/events/breakfast-seminar-companies-act-2014-overview

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