The Companies Bill 2012 returned to Dáil Eireann yesterday evening, 10 December 2014, when all of the amendments made by Seanad Eireann were considered and agreed to. As a result, the Bill has now been passed by both Houses of the Oireachtas. This brings to an end the passage of the Bill through both Houses, a legislative procedure which began over a year and a half ago in April 2013. In that period, hundreds of amendments have been made to the Bill as originally published, and we have been instrumental in lobbying for a number of these amendments.

The President of Ireland is shortly expected to be asked to sign the Bill into law, in accordance with the provisions of the Constitution. Assuming that this happens before the end of this month, it will become the Companies Act 2014.

As we have previously pointed out however, the legislation will not enter into force until it has been “commenced” by a Commencement Order which will be made by the Minister for Jobs, Enterprise and Innovation by means of a Statutory Instrument.  Our current understanding is still that the commencement date of the legislation will be June 1, 2015, and that, on the commencement date, the vast majority of its provisions will enter into force, although this is subject to change.  We will of course keep you updated as to developments.