Using Disqualified/Restricted Person Search

NOTES FOR USERS

The information available is an extract from the Registers of Disqualified and Restricted Persons, which are updated regularly. If you are aware of any person who continues to operate as a company director or other officer or shadow director despite being disqualified or who is acting in a capacity in breach of a restriction order you may forward this information to the Office of the Director of Corporate Enforcement at www.odce.ieLinks to external website.

The information available here is an extract from the Registers of Disqualified and Restricted Persons, which are updated regularly. Occasional inaccuracies may occur which we correct as soon as they are drawn to our attention. If you spot something you think might be wrong, please let us know so we can, if necessary, correct the database.

Shadow Director

A shadow director is a person who while not being listed or formally appointed as a director of a company actually acts in that capacity and is accepted as acting in that capacity by others.A disqualification /restriction order applying to the role of director automatically applies to that of a shadow director.

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Restriction
The court shall, unless it is satisfied as to any of the matters specified in subsection (2) Section 150, 1990 Companies Act, declare that a person to whom this Chapter applies shall not, for a period of five years, be appointed or act in any way, whether directly or indirectly, as a director or secretary or be concerned or take part in the promotion or formation of any company unless it meets the requirements set out below:

The requirements specified in subsection (1) are that-

  • ( a ) the nominal value of the allotted share capital of the company shall-

(i) in the case of a public limited company, be at least €317,435,

(ii) in the case of any other company, be at least €63,487

  • ( b ) each allotted share to an aggregate amount not less than the amount referred to in subparagraph (i) or (ii) of paragraph (a), as the case may be, shall be fully paid up, including the whole of any premium thereon, and
  • [ c ) each such allotted share and the whole of any premium thereon shall be paid for in cash.

Disqualification

Where a person is convicted on indictment of any indictable offence in relation to a company, or involving fraud or dishonesty, then during the period of five years from the date of conviction or such other period as the court, on the application of the prosecutor and having regard to all the circumstances of the case, may order-

  • ( a ) he shall not be appointed or act as an auditor, director or other officer, receiver, liquidator or examiner or be in any way, whether directly or indirectly, concerned or take part in the promotion, formation or management of any company or any society registered under the Industrial and Provident Societies Acts, 1893 to 1978;
  • ( b ) he shall be deemed, for the purposes of this Act, to be subject to a disqualification order for that period.

From June 1st Companies Act 2014 applies:

Restriction and Disqualification
Directors of a company can be restricted or disqualified from acting as an officer to a company by the High Court or a director may undertake to accept disqualification or restriction by the Office of the Director of Corporate Enforcement (ODCE) without the necessity to go to the High Court.

The restriction requirement has been amended under the new Companies Act 2014. In order for a restricted director to act in relation to a company, the allotted share capital of nominal value must be not less than €500,000 in the case of a public limited company (other than an investment company) or a public unlimited company or €100,000 in the case of any other company type. Each share shall be paid up (in cash) to an aggregate amount not less than the figures stated above including the whole of any premium on that share.

In relation to companies limited by guarantee, contribution to the company by a member(s) is not less than €100,000. The member must be an individual rather than a body corporate. In relation to an investment company, the value of the issued share capital must be at least €100,000. At least €100,000 in cash must be paid in consideration for the allotment of shares in the company.

Restriction lasts for 5 years. There can be different periods set for disqualification but the normal period of disqualification would be 5 years also.
Restriction can be made in relation to an insolvent company unless the Court is satisfied that the person acted responsibly and honestly in relation to the conduct of the affairs of the company or has co-operated with the liquidator in relation to the conduct of the winding up of the company or if it is just and equitable in the eyes of the court that the restriction is not made.