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Statutory Instruments published in connection with Companies Act 2014

13 December 2017

The following statutory instruments have been recently published, which impact on the Companies Act 2014.

  • The European Union (Traded Companies – Corporate Governance Statements) Regulations 2015, SI No 423 of 2015

These Regulations concern the statutory auditor's report on statutory financial statements of traded companies made under section 391 of the Companies Act 2014.

The Regulations amend section 1373 of the Companies Act 2014 by substituting subsection (7). The amendment clarifies the duties of the statutory auditor regarding the corporate governance statement, where such a statement is prepared.

It appears that the new wording in subsection (7) is a scaled back version of the original provision.

  • The Companies Act 2014 (Section 682) Revocation of Statutory Instrument) Regulation 2015, SI No 497 of 2015

The purpose of the Regulation is to revoke S.I. 221 of 2015 which will be replaced with the Rules of the Superior Courts (Companies Act 2014) (No. 2) 2015.

  • The Companies Act 2014 (Section 457 Forms) Regulation 2015, SI No 498 of 2015

The purpose of this Regulation is to prescribe the form of ‘cell notice’ and ‘information notice’ required pursuant to section 457(4) and (6) concerning the right to buy out shareholders dissenting from scheme or contract approved by majority and right of such shareholders to be bought out.

  • The Companies Act 2014 (Section 580 (4)) (Revocation of Statutory Instrument) Regulation 2015, SI No 499 of 2015

The purpose of this Regulation is to revoke S.I. 217 of 2015 which will be replaced with the Rules of the Superior Courts (Companies Act 2014) (No. 2) 2015.