2013 Newsletter

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2013-06-04 Issue 120

ELECTORAL AMENDMENT POLITICAL FUNDING ACT 2012

This Act was signed into law on 6th November 2012. One of the provisions of this Act changes the amount threshold for disclosure on an annual return form completed by a company, society or trade union.

From 7th November 2013, the amount paid as a political donation that must be disclosed is reduced from €5079 to €200. This change does not come into effect until this date. From 7th November 2013 any annual return submitted to the CRO must include donations made at the lower figure.

PUBLICATION OF COMPANIES BILL - 21ST DECEMBER 2012

The Companies Bill was published on 21st December 2012 by the Minister for Jobs, Enterprise and Innovation, Mr. Richard Bruton TD. The Bill proposes many changes to Company Law and consolidation of the various Companies Acts. It was presented before the Dáil on 23rd April. The Bill does not yet have legal effect.

Link to Companies Bill 2012 and explanatory memorandum to the Bill

B1 - ANNUAL RETURNS AND ACCOUNTS - SEND BACK LETTERS - REMINDER

Where an annual return is sent back by CRO for correction or for fees, Section 249A, Companies Act 1990, requires that the errors/omissions must be corrected and a fully compliant document delivered to the CRO within 14 days.

If a fully compliant document is not delivered to the CRO within 14 days, the original document will be deemed not to have been delivered to the Registrar. The re-submitted document will then be treated as a fresh submission, potentially resulting in the company incurring late filing penalties and losing any entitlement to claim audit exemption for two years.

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