The Companies Act 2014 came into effect on 1 June 2015. The Central Bank issued a Q&A Update concerning the Companies Act 2014 to clarify that  the Central Bank does not require UCITS management companies, alternative investment fund managers, AIF management companies, fund administrators, depositaries and investment firms which are companies to convert to Designated Activity Companies (DACs) under the Companies Act 2014.

The Central Bank is of the view that corporate structuring is a matter for each entity.  Notwithstanding the corporate structure chosen, regulated financial service providers must comply with all regulatory requirements applicable to them.