Part 21 – External Companies
5 Chapters – Sections 1300 to 1311
Chapter Overview
Chapter 1 – Preliminary
Chapter 2 – Filing obligations of external companies
Chapter 3 – Disclosure in certain business documents and translation of documents
Chapter 4 – Service of documents
Chapter 5 – Compliance
Part Summary
The law as it pertains to the registration and disclosure requirements of external companies.
What is new?
External companies will now be required to register a branch (as opposed to just a place of business) or not register at all, and therefore will be obliged to file accounts. The “Slavenburg file” maintained at the CRO to facilitate companies which have established a branch but failed to register the branch, in delivering particulars of charges to the CRO, will be abolished. Where a branch is established charges must be registered at the CRO.
What is different?
The requirement to register the establishment of a place of business is to be abolished under the Act. Only external companies whose members have limited liability will be required to register and have filing obligations. Therefore unlimited companies establishing a presence in Ireland will not be required to register at the CRO. An undischarged bankrupt cannot act as an officer or be concerned in the management of such a company.
What are the Key Points?
- External branch registration and filing requirements
- Abolition of Slavenburg file
- Registration of place of business no longer required
- External unlimited companies not required to register
What do accountants need to do?
Accountants should be aware of the obligations on external companies with regards to filing of financial information and charges with CRO.
What do companies need to do?
Companies should be aware of whether they are obliged to register and the consequent filing obligations. They should comply with the relevant law in the jurisdiction on information to be disclosed on letterheads and order forms etc.