The Central Bank of Ireland (Central Bank) published the twelfth edition of the AIFMD Q&A on 23 January 2015. New questions ID1085 (delegation), ID1086-ID1087 (transitional arrangements) and ID1088 (disclosure) were added.
The Companies Bill 2012 was signed by the President of Ireland on 23 December 2014, and has become the Companies Act 2014 (the Act). It is expected that most of the provisions of the Act will come into effect on 1 June 2015. At 1,448 sections and 17 schedules, and covering more than 1,100 pages of text, this was the largest single piece of legislation to come before the Dáil. A link to the Companies Act 2014 appears below:
The new Companies Act condenses the current 17 Companies Acts and related company law provisions into a single comprehensive code of company legislation, and is the culmination of more than 10 years’ work on the part of the Company Law Review Group and the Department of Jobs, Enterprise and Innovation. Whilst many of the provisions are merely a restatement of the current law, there are also a number of changes and some new provisions. The design of the new Act focuses on simplification and modernisation with clear and accessible drafting language. Companies remain subject to the Companies Acts 1963-2013 until the Act commences. The citation of the current legislation remains the Companies Acts 1963 to 2013. The Act will replace the Companies Acts 1963 to 2013. It has some impact on companies operating in the Irish investment funds industry.