Certain companies in existence on 1 June 2015 are required to observe the new naming requirements provided for under the Companies Act 2014 (the Act).
If your company is affected then you will need to take action to be ready for this change.
Which companies are affected?
Under the Act, and unless exempted, all companies must include their company type in their company name. For some companies this will not have any immediate effect, but others will be required to change their name to comply with this requirement.
The types of companies immediately affected are:
- Companies Limited by Guarantee: the words "Company Limited by Guarantee" or the Irish equivalent must replace "Limited".
- Unlimited Companies: the words "Unlimited Company" or the Irish equivalent must be inserted after the existing company name.
This requirement will apply from 30 November 2016. The Companies Registration Office (CRO) has advised that once 30 November 2016 has passed, it will not accept any documentation featuring the incorrect form of company name.
If your company is affected, you have two options:
- Be proactive and control your company’s destiny by making the change now and updating your company's stationery, company seals and registers and notifying contractual counterparties and third parties.
- Do nothing and brace yourself for 30 November 2016 when the Registrar of Companies will automatically change the name of your company and issue an amended certificate of incorporation.
Companies are advised to be hands-on and take the necessary steps to comply with the new requirements and also ensure that the relevant amendments are made to their stationery, etc.