The Companies Bill 2012 passed its final parliamentary stages yesterday evening and can now be signed into law by the President. This Bill, at more than 1,400 sections and 17 Schedules, is the largest ever Irish statute, consolidating and reforming Irish company law for the first time in over 50 years.

The Companies Act 2014, as it will now be called, is planned to come into effect on Monday June 1, 2015.

What the Companies Act 2014 means for your company

Every Irish private limited company must prepare for transition into the new regime by deciding to register as either a designated activity company (DAC) or company limited by shares (CLS) during the transition period.