Start Preparing for the new Companies Act – 1 June
The long awaited Companies Bill was finally enacted in December 2014 with an intended date for commencement on the 1st June 2015. Therefore members need to start preparing themselves and their companies for the changes. The Companies Registration Office (CRO) are going to start making the public aware of the Act and the responsibilities that go with it. Below are what members should expect to see:
The CRO will be using as many media profiles as possible, e.g. twitter, email, radio, newspapers all of which will drive users towards the CRO website for further information.
- CRO website (www.cro.ie) has a specific content folder outlining aspects of the Companies Act.
- The specific content folder includes drafts of new statutory forms which will be required once the Act commences such as Annual Returns, changes in Director details, etc. Members of the public and interested parties can contact the CRO directly with any comments they have on the forms, which in itself, is a unique opportunity for users of the CRO to have a practical say on the format and content of statutory forms.
- In April, the CRO will send an information booklet to every Director in the country. They will do so via email addresses where possible, and by post.
- In April, the CRO will start a general advertising campaign to make the public aware of the Act which will be relatively low level as it will endeavour to create awareness of the Act rather than deal with specific items in detail.
- Later in the year (before June but date to be confirmed) the CRO will start a more detailed advertising campaign where they will endeavour to highlight the choices companies have regarding their designations (e.g. remain limited by shares, become designated activity company, etc).