2015 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).

CRO Newsletter Issue 142

COMMENCEMENT OF NEW COMPANIES ACT 2014

The Companies Act 2014 will commence on 1st June 2015. It will replace the Companies Acts 1963-2013.

NOTHING WILL BE CHANGING BEFORE THEN.

In the meantime the CRO is working to ensure that its website will be updated with content and helpful information regarding the changes in processes that the Act will effect. CRO will also:

- Continue to speak at various company law events hosted by various professional groups who interact with CRO on behalf of companies.

- Continue to issue publications (CRO ezine / tweets)

- Send guidance information directly to every director on the register

- Advertise in the national newspapers regarding the key messages (changeover date from old Forms to new Forms, and the requirements on companies regarding Conversion and Name Change).

SOME OF THE MAIN CHANGES TAKING PLACE UNDER NEW ACT

AGE REQUIREMENT FOR DIRECTORS 
 
Under the new Companies Act 2014, commencing on 1st June, all directors of companies must be over the age of eighteen.

https://www.cro.ie/New-Act-2014/Directors-Duties   

DIRECTORS DUTIES 

There a number of requirements imposed on company directors under the new Companies Act 2014, which will commence on 1st June 2015. 

https://www.cro.ie/New-Act-2014/Directors-Duties 
 
OFFENCES 

The Act provides for a four-fold categorisation of offences into Categories 1 to 4. Throughout the Act, offences are, as created, categorised as attracting a particular category of penalty.

https://www.cro.ie/New-Act-2014/Offences   

REGISTERED OFFICE AGENT 

Under the new Companies Act 2014, due to commence on 1st June 2015, a company's registered office may be placed in the care of an agent who has an office in the State and is approved for this purpose by the Registrar of Companies.

https://www.cro.ie/New-Act-2014/Registered-Office-Agent 
 
EXTENSION OF TIME TO FILE ANNUAL RETURN WILL BE AVAILABLE FROM DISTRICT COURT - REMINDER 

Please note that from the commencement date of the Companies Act 2014 (1 June 2015), applications for an extension of time to file an annual return can be made through the District Court as per section 343(5) of the Act. The costs of making an application to the District Court are far less than the High Court (which is currently the court prescribed).
The District Court will (on notice to the Registrar) hear applications for an extension of time to file the annual return and may make an Order extending the time to file. Where a company files such an Order with the CRO within 28
days of the Order being made, and subsequently files the annual return within the extra time specified by the District Court, the documents will be deemed by the CRO to have been received on time. As a result, the consequences of late filing (late filing penalties / loss of audit exemption) will not apply to that annual return. Further information on this process will be posted on www.cro.ie in due course.

Consequently, from 1 June 2015 CRO will no longer be engaging in correspondence with companies appealing the application of penalties as a result of the late filing of an annual return. Instead, companies who need more time to file their
annual return should make an application to the District Court in the district court area where their registered office is situated.

NB. Section 343(5) of the Act will not apply to an annual return which has already been delivered to the CRO at 1 June 2015. 
 
 e-DAY - CRO ENCOURAGES ALL CUSTOMERS TO MOVE FROM CHEQUES TO
ELECTRONIC METHODS - REMINDER
 
 
The National Payments Plan (NPP) seeks to reduce the cost of Ireland’s payment system through the increased use of more cost effective payment methods which will lead to increased competitiveness and efficiency. To this end the NPP launched a campaign to encourage the business community to migrate from cheque usage to electronic payment methods
from ‘e-Day’ - 19 September 2014.

While CRO has continued to accept cheques after 'e-Day', the Office is planning to phase out handling cheques and other paper forms of payment entirely from 2016 on.

In order to prepare for the ending of cheque acceptance by the CRO in 2016, the Office requests all customers to begin the process of moving away from cheque usage to payment by electronic means as soon as possible by:

(a) familiarising yourselves with CRO’s electronic methods of payment (Credit/ Debit cards, Customer Accounts etc),
see https://www.cro.ie/Publications/Fees/Payment-Methods,

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 2016.

https://www.cro.ie/About-CRO/Whats-New/E-Day-Sept-19th

Please login or register to post comments.

Theme picker