Despite the huge effort invested in the planning, consolidation and revision of over fifty years of legislation which led to the Companies Act 2014 (CA14), it has already been amended a number of times, and it's likely that there will be further amendments before too long.

Some of the more notable amendments to the CA14 so far are outlined below. 

Workplace Relations Act 2015.

All compensation payable to an employee under Part 4 of the Workplace Relations Act 2015 shall, under section 49(1) of that Act, rank among the debts that are distributed in priority to all other debts under section 621 of CA14.

Legal Services Regulation Act 2015.

When it comes into force, section 132 of the Legal Services Regulation Act 2015 provides that the restriction in CA14 in which only limited liability companies may use the word 'Limited' in its name, or any abbreviation of that word, shall not apply to a limited liability partnership within the meaning of the Legal Services Regulation Act 2015.

Companies Act 2014 (Section 1313) Regulations 2015.

These Regulations apply certain provisions of Part 17 of CA14 to any unregistered company that is a traded body under Part 22 of CA14.  These provisions relate to transfers of securities, the acquisition of own shares, notice and voting at meetings of securities holders, exemptions that apply to credit institutions or insurance undertakings and the acquisition of uncertificated securities from dissenting shareholders.

Companies Act 2014 (Section 1313) Regulations 2016.

Further to the previous Regulations, since 1 February 2016 further provisions relating to the disclosure of directors' transactions and remuneration have been applied to a traded body under Part 22 of CA14.

European Union (Bank Recovery and Resolution) Regulations 2015.

These Regulations implement the Bank Recovery Resolution Directive in Irish law.  A significant number of amendments were made to fourteen sections of CA14 along with smaller technical changes, the general effect of which is to limit the effects of those sections when Part 4 of these Regulations is being applied or exercised.

European Union (Traded Companies – Corporate Governance Statements) Regulations 2015.

These Regulations amend subsection 1373(7) of CA14 with the effect that where a traded company prepares a corporate governance statement, the obligations of the statutory auditor of a traded company in respect of their report under section 391 of CA14 have been altered.

Further Amendments

The Law Society has compiled a list of anomalies in CA14 that they will seek to have rectified. 

It is also thought that the non-filing structures that are available for unlimited companies will be removed in a Companies Accounting Bill, which is expected to be published in 2016 and to necessitate further amendments to CA14.