2014 Ezine Newsletter


Email Newsletter
The CRO newsletter facility allows subscribers to receive regular news updates from the office by email. These emails are delivered in text format:

1. CRO E-Zine
This is an electronic bulletin published once a month. It informs all subscribers of the current developments within the Office and also notifies subscribers of future events.

2. Interim Messages
The email newsletter service is effectively split in two (though only one subscriber list is used). Every subscriber receives delivery of the CRO E-Zine once every month. In the interim subscribers may receive further updates if necessary from the Office (urgent or time sensitive messages).

'e-Day’ - 19 SEPTEMBER 2014

The National Payments Plan (NPP) seeks to reduce the cost of Ireland’s payment system through the increased use of more efficient payment methods which will lead to increased competitiveness and efficiency. The NPP estimates that if Ireland were to match best practice in Europe, savings of up to €1 billion per annum could be made across the economy.The particular focus of ‘e-Day’ - 19 September 2014 - is to encourage the business community to migrate from cheque usage to payment by electronic means.

The approach of the CRO is to build on the impetus of ‘e-Day’ with a view to phasing out the handling of cheques and other paper forms of payment entirely from 2016 on.


The CRO currently provides a number of electronic payment options such as credit/debit cards and Customer Accounts which can be set up on-line and topped up on-line by credit/debit card. The CRO also plans to provide additional electronic payment options such as Single and Recurring Direct Debit Mandates during the course of 2015.

CRO requests all customers who currently pay by cheque to begin the process of moving away from cheques and other paper forms of payment by:

(a) familiarising yourselves with CRO’s electronic methods of payment set out below, and

(b) making whatever changes in procedures are necessary within your firm/company to allow you to discontinue using cheques and other paper forms of payment from 19 September 2014, or as soon as possible thereafter.

CREDIT / DEBIT CARD

It is now possible to pay by credit / debit card for:

on-line filing of B1 annual returns, C1 forms and Business Name applications through CORELinks to external website at https://core.cro.ie/Main/index.jsp, filing submissions and purchasing documents in the CRO Public Office, searches and purchasing documents on-line, making a deposit to a Customer Account.

CRO uses 3D Secure for online purchases and payment of online forms. 3D Secure is a service that has been created by Visa and MasterCard to help guard your credit card against unauthorised use online. 3D Secure works by using a password that you create as your unique online identifier. You will be asked for your 3D Secure Password to validate online credit card transactions with the CRO.

Please note that only "Chip-and-Pin" enabled credit or debit cards can be accepted for payment by the CRO.

CRO CUSTOMER ACCOUNTS

CRO provides a service whereby customers can set up a Customer Account to which you can lodge funds and then charge fees to each time you file a submission or order documents from the Company Search Facility. Accounts can be opened on-line by going to CRO Accounts System and choose "not an Account holder? Sign up now". Complete the information and click Submit application.

Deposits to an account can be made on-line by credit/debit card or by CRO Credit Note. Accounts must be kept in credit at all times. The Account can then be used as follows:

  • When filing electronic documents through software packages, the fees are automatically charged to a Customer Account.
  • When filing electronically through CORE, the presenter should tick the box and insert a PIN to authorise the deduction of the fee from their Account at the capture stage.
  • When filing manual/ paper documents, the fee can be charged to a Customer Account by attaching a Payment Authorisation Form (PAF) to the document

ANNUAL RETURNS FILED IN 2014 FOR 2015

The Companies Acts state that a company must file an annual return at least once in each calendar year. A company with a 2015 ARD date must file an annual return with an effective date made up to, at minimum, 1st January 2015 in order to meet this requirement and move their next ARD on to 2016.

REGISTER OF FRIENDLY SOCIETIES - LEGISLATION CHANGE - REMINDER

Minister Bruton has announced the commencement of legislation to reduce red tape on co-operatives. The Friendly Societies and Industrial and Provident Societies (Miscellaneous Provisions) Act 2014 was enacted on the 21st July 2014.

See Department website: http://www.djei.ie/press/2014/20140727.htm. This Act will amend a number of provisions of both these Acts.

Changes to Industrial and Provident Society law will:

  • Introduce examinership process to Industrial and Provident Societies
  • Allow individual societies to set their own limit on individual shareholdings in the society
  • Ease financial reporting restrictions by extending the period for the preparation and submission of the annual return and accounts.
  • Make it easier for cancelled societies to be restored to the register
  • Ease fund-raising restrictions for non-agricultural societies

Various sections of the Act will be commenced at different future dates.

It will no longer be possible to register a new Friendly Society. There are current just 47 Friendly Societies on the register and many of these have low levels of activity.

RFS - Industrial and Provident Societies and Annual Returns

A society must once in every year send a return [section 10(e) of the 2014 Act].

The annual return shall be submitted no later than-

(i) 31 October, where the date of its last published balance sheet falls between1 January and 30 June, and

(ii) 30 April, where the date of its last published balance sheet falls between 1 July and 31 December (of the preceding year);

In brief:

Any society which publishes its balance sheet between 1 July and 31 December this year is not required to file an annual return until April 2015

A society with a balance sheet date between January and end June this year are not required to file an annual return until October 2015 as long as they have filed an annual return in 2014.

Please note that the submission of Triennial returns will no longer be required. The section of the 1913 dealing with this has been repealed. 


FULLY ELECTRONIC FILING OF ACCOUNTS NOW AVAILABLE - REMINDER

Section 3 and 4 of the Companies (Miscellaneous Provisions) Act 2013, commenced on Monday 10th March 2014.

This Act removes the requirement for accounts documents filed with the CRO to include handwritten signatures of Directors, Auditors etc and instead requires that the signatures appear in TYPED form on each document.

Where accounts with typed names only are delivered to the Registrar, the Act requires them to be certified by a Director and Secretary of the company, in either electronic or written form, stating that each of the accounts documents annexed to the annual return is a true copy of the original.

FILING A B1 ELECTRONICALLY THROUGH CORE:

When filing an e-B1 through CORE, a presenter must tick a box on the B1 to indicate the type of accounts being filed by the company. A corresponding CERTIFICATE will then appear on the signature page and the Director and Secretary can sign for both the e-B1 and accounts on this single page. This will be the case whether the accounts are uploaded as a PDF attachment or annexed to the signature page as a paper document. A Electronic Filing Agent cannot electronically sign the accounts certification on the e-B1.

FILING A B1 ELECTRONICALLY THROUGH A SOFTWARE PACKAGE

Software suppliers are currently working on updating their packages to include the account types in the list of attachments and corresponding certificates. Until the update has been applied please file B1s as normal with accounts containing typed signatures and the relevant certificate signed by the Director and Secretary.

For information on when the new facility will be available please contact your software supplier.

FILING A PAPER B1 AND ACCOUNTS

When filing a paper B1 with accounts containing typed signatures, a CERTIFICATE signed in manuscript by a Director and Secretary must be placed either

a) on each individual document stating that the document is a true copy of the original, or

b) on an "Overall Certificate" in front of the first page of the accounts listing the documents and stating that each is a true copy of the original (see sample of new Overall Certificate on the CRO website at www.cro.ie)

For more information, including information on account types which may be annexed to an annual return, go to: Filing Accounts Electronically 

 

Please login or register to post comments.

Theme picker