The directors of a company who meet the conditions set out below in respect of the financial year to which the directors report refers, must include in the Directors Report a compliance statement. This applies to large companies and to Public Limited Companies. It does not apply to unlimited companies.
The Companies Act 2014 commenced on 1st June 2015.
The requirements to be met are as follows:
(a) Its balance sheet total for year exceeds
(b) the amount of turnover for the year exceeds-
Section 225 does not apply to a company that is of a class exempted under the terms of section 943(1)(g) as follows:
The directors’ compliance statement shall contain the following
The arrangements and structures referred to in (b) above may, if the directors of the company in their discretion so decide, include reliance on the advice of one or more persons employed by the company or retained by it under a contract for services, being a person who appears to the directors to have the requisite knowledge and experience to advise the company on compliance with is relevant obligations.
The arrangements or structures referred to in (b) above shall be regarded as being designed to secure material compliance by the company with its relevant obligations if they provide a reasonable assurance of compliance in all material respects with those obligations. Each director who fails to comply with this section of the Act shall be guilty of a category 3 offence.
Copyright 2016 Public Office Address: Companies Registration Office, Parnell House, 14 Parnell Square, Dublin 1, Eircode: D01 E6W8. DX Number: 145001. Phone: +(353 1) 8045200
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