The Companies (Miscellaneous Provisions) Act 2009 (the 2009 Amendment Act) amended the Companies Act 1990 to extend the definition of "recognised stock exchange" to include exchanges outside the State, as well as individual markets outside the State. This provision was dependent on the Minister prescribing exchanges. The Tánaiste has now signed regulations prescribing the London Stock Exchange, the New York Stock Exchange and the NASDAQ as "recognised stock exchanges", to permit Irish public companies to make overseas market purchases of their own shares on a recognised stock exchange.
A new notification requirement was also introduced for overseas market purchases in the 2009 Amendment Act. The company is required to publicise its purchase of own shares on the company website for not less than 28 days, beginning on the day following the purchase. Companies are only required to publish the highest and the lowest prices paid, and the date of the purchase.
The Department of Enterprise, Trade and Employment has indicated that additional exchanges may be recognised at a future date.