It is now possible in certain instances for a company director not to have to disclose their usual residential address on a form submitted to the Companies Registration Office (CRO).
This process is outlined under Section 150 (11) of the Companies Act 2014.
The following key points should be noted in this regard:-
- An exemption granted will only take effect from the date that the application is registered by CRO and would only apply to information submitted on forms to the CRO after this date. It is important to note that forms previously submitted to CRO cannot be withdrawn or amended as part of this procedure.
- In cases where company officers are successful in their application, they will be permitted to enter the registered office address of the company on future submissions to CRO rather than disclose their own residential address. Furthermore, the company’s own statutory registers can be amended to remove the directors’ usual residential address.
- Where the application is successful, the company officer is from that point onwards themselves responsible for the non-disclosure of the usual residential address. CRO will not amend residential addresses on forms submitted to them for processing.
- As was previously the case, all other relevant information for the company director must be supplied e.g. date of birth, details of other company directorships etc. The exemption only applies to the usual residential address.
The procedure for making an application for such an exemption is as follows:-
- A completed Form T1 must be submitted to CRO marked for the attention of the Registrar of Companies.
- The application seeking an exemption must be accompanied by a supporting statement from an officer of the Garda Siochana not below the rank of a Chief Superintendent requesting that the usual residential address of a person who is an officer of the company shall not appear on the register kept by the Registrar for reasons of personal safety or security.
If CRO are satisfied with the outlined procedure has been complied with, it will notify the director concerned that the exemption has been granted.
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Posted on May 4, 2016 by Mary Flanagan
Companies Act 2014 Recent Changes
Recent changes to the Companies Act 2014, effectively split the Act into two separate parts;
- Parts 1-15
This section of the Act deals with private companies limited by shares (LTD).
- Parts 16-24
This section of the Act deals with all other types of companies not defined as private companies limited by shares, including;
- Designated Activity Companies (DACs),
- Public Limited Companies (PLCS)
- Guarantee Companies (CLG)
- Unlimited Companies (UL)
- Investment or External Companies.
Directors’ Compliance Statement
The new Act includes a number of notable amendments, however Read more
Posted on April 21, 2016 by Cooney Carey
The Companies Act 2014 codifies for the first time the duties of directors.
The principal fiduciary duties of directors are outlined as follows:-
- To act in good faith in what the director considers to be in the company’s interests
- To act honestly and responsibly in relation to the conduct of the affairs of the company
- To act in accordance with the company’s constitution and to exercise powers only for purposes permitted by law
Posted on March 15, 2016 by Mary Flanagan