Deadlines for companies wishing to be converted to a DAC or an LTD
Under the 2014 Companies Act, all existing private companies limited by shares (ie. Companies incorporated under the previous Companies Acts) have the option of converting to one of the new company types (LTD or DAC) during a transition period which ends on 30th NOVEMBER 2016.
Such private limited by shares companies that have not applied to the CRO to be converted to either a DAC or an LTD during the transition period will be automatically converted to an LTD by the legislation on 1st December 2016.
Companies wishing to be converted to a Designated Activity Company (DAC) must, under the Act, pass an ordinary resolution to convert by 31st AUGUST 2016 and should follow up by filing a Form N2 and amended Constitution with the CRO as soon as possible thereafter.
Companies wishing to convert to a Private Limited by Shares Company (LTD) and adopt a new Constitution should do so as soon as possible as the CRO cannot guarantee that applications received at the very end of the transition period will be processed before 30 November.
Directors of companies wishing to be converted to a new company type are therefore requested to consider this matter at the earliest opportunity and to file your conversion applications with the CRO in good time.
See Need to Convert webpage. Link to Information leaflet on Conversions - Leaflet no. 31
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The Companies Act 2014 requires that each company type be included as part of the company name. For some types of company this will require an alteration to be made. Certain company types require their type as a suffix to be included as part of the company name.
This change affects Companies Limited by Guarantee, Designated Activity Companies Limited by Guarantee and Unlimited Companies.
Where a company does not change its name during the eighteen month Transition Period the CRO will apply the name change at the end of Transition Period – 30th November 2016. If a company is currently exempted from stating “Limited” at end of its name, (a licenced company), this exemption will continue under the Companies Act 2014 and the company does not have to alter its name.
See Requirement to alter name webpage. Link to Information leaflet on Name Change - Leaflet no. 33
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The Companies Act 2014 was introduced on 1st June 2015 and it replaced the Companies Acts 1963-2013. As well as consolidating the previous legislation it also sought to simplify procedures and introduced changes in practices.
Link to Irish Statute Book website - The Companies Act 2014.