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 issued a Q&A Update concerning the Companies Act 2014 which indicates that in the Central Bank's view, save for credit institutions and insurance undertakings which must be DACs, corporate structure is a matter for each entity. Notwithstanding the corporate structure chosen, regulated financial service providers will nevertheless need to comply with all regulatory requirements applicable to them. Please speak with your usual contact in the A&L Goodbody team if you require more detail on this topic.