Directors, take note
The Companies (Miscellaneous Provisions) (Covid-19) Act 2020 was signed into law on 1 August 2020 and will remain operative for the Interim Period
The Companies (Miscellaneous Provisions) (Covid-19) Act 2020 was signed into law on 1 August 2020 and will remain operative for the Interim Period
The Companies (Miscellaneous Provisions) (Covid-19) Bill 2020 proposes to address certain compliance challenges being faced by companies and industrial and provident societies due to the COVID-19 pandemic where compliance under the Companies Act 2014 (CA 2014) and the Industrial and Provident Societies Acts 1893 (as amended) (1893 Act) may not be possible due to the social distancing measures in place
The sometimes controversial Examinership process, established in 1990, remains a very important tool for Irish companies with viable businesses that find themselves in financial difficulties
Social distancing has meant that contracts and other documents that might have been signed by hand are now having to be executed and exchanged electronically
During this difficult and uncertain time, it is vitally important that Directors continue to hold Board meetings and record all actions arising from these meetings
The company secretary plays a crucial role in any organisation, particularly during times of crisis and business disruption
The Department of Foreign Affairs (“DFA”) has advised that, as a result of the COVID-19 pandemic, the authentications and apostilling Public Office in Dublin and Cork will close at 16:00 on Friday 27 March and will remain closed until further notice
The Companies Registration Office (“CRO”) have advised Irish companies that all annual returns due to be filed by any Company between now and 30 June 2020 will be deemed to have been filed on time if all elements of the annual return are completed and filed by that date
Since December 2019, the coronavirus (COVID-19) outbreak has affected every aspect of business for many companies and in doing so, has raised immediate corporate governance risks for many companies globally
As the situation with Covid-19 continues to evolve, Irish companies are advised to implement and test their business continuity plans in relation to their upcoming AGM with full regard to public health guidelines and restrictions
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