The Companies Act 2014 introduced various name changes to a number of company types.
It also sets out a “conversion” process required for all existing private companies limited by shares into one of two new company types. This “conversion” procedure affects approximately 85% of Irish registered companies which were registered under the old Acts as Private Companies (Limited by Shares).
Taking effect from 1st June 2015, the new Companies Act 2014 doesn’t just consolidate all the Companies Acts from 1963 to 2013, it also introduces two new company models, one of which, the LTD company, is a much simplified company type and the second, the DAC company (Designated Activity Company), allows for a more complex structure of private limited company.
All companies currently registered as the “Private Limited by Shares” company type must choose to convert to one of these two new company types – LTD (Private company limited by shares), or DAC (Designated Activity Company).
Guarantee companies and unlimited companies are required to change their names under the new Act if not already done so.
There is a deadline of the 30th November for all companies to have availed of these procedures by the 30th November 2016, before they are deemed to be DACs or CLGs.
We have a special offer of a quick conversion process. Let us know your requirements and we will organise the conversion for you.