SEEING THE WOOD FROM THE TREES THE NEW COMPANIES ACT 2014 EXPLAINED

5th October 2015

Compliance with the new Companies Act 2014 Vital for Directors in Ireland

Under the new Companies Act 2014, changes in legislation now penalise company directors more frequently and aggressively than before for non compliance. More than 120 people attended a briefing event, hosted by Westboro Partners and Baxter & Associates on the obligations and duties of company directors under the new legislation.

The briefing clarified the new penalty system, which can be levied on those directors failling to file statuatory returns. Other areas such as directors loans, the new Company Secretary “Qualification Test” and the new Simplified Private Company, LTD were addressed at the free information evening.

“Like any new legislation, it is vital to know and understand how the new law will affect you as a company director. Whether you are an active or passive director in a company, you must understand your obligations and duties, or risk penalties under the Companies Act 2014,” said Mary Power, Partner at Westboro Partners.

Brian Walker, Barrister at Law specialising in Company Law was the keynote speaker at the event.

“The new Companies Act 2014 is already in and Company Directors need to be informed as to the duties and obligations they are bound by under the Act,” said Ciaran Baxter, Baxter & Associates.

The new provisions effectively allow the Office of the Director of Corporate Enforcement to issue ‘penalty points’ of sorts to directors that have allowed their companies to be struck off for not filing statutory returns with the CRO. To learn more about this and other new introductions under the Companies Act 2014,visit www.westboro.ie

Pictured: Seeing the Wood from the Trees, Mary Power, Westboro Partners, Ciaran Baxter, Baxter & Associates ,Brian Walker B.L. Barrister specialising in Company Law and Annemarie Quin Westboro Partners

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