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General Scheme of the Companies (Corporate Enforcement Authority) Bill

The General Scheme of the Companies (Corporate Enforcement Authority) Bill was published on 4 December 2018. The General Scheme gives effect to 2 of the 14 measures in the Government’s package of “Measures to enhance Ireland’s corporate, economic and regulatory framework”, which is subtitled ‘Ireland combatting “white collar crime”’ and was published on 2 November 2017. Those 2 measures are – 

  1. Establishing the Office of the Director of Corporate Enforcement as an agency that is better equipped to investigate increasingly complex breaches of company law;
  2. Implementing recommendations of the Company Law Review Group on corporate governance.

The General Scheme also incorporates some additional provisions, such as –

  • Implementing recommendations of the Company Law Review Group on shares and share capital;
  • New ground for the restriction of company directors;
  • Measures with respect to the conduct of liquidations and oversight of liquidators;
  • Transparency measures with respect to companies and the Register of Companies.  

 

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