SAPs for Practical Transactions
Date: Tuesday, 09 November September
Time: 11:00 – 12:00
Speaker: Sinead Gortland & John Murphy
This webinar will look at the practical use of the Summary approval procedures in Sections 203 to 207 of CA 2014 in every-day business transactions/restructurings. It will identify the possibilities that arise as a result of performing some of these SAP’s.
This webinar will cover the following:
- A review of the summary approval procedure in general and the requirements with regards to company law:
- What the SAP is and why it is in the legislation.
- The meetings that are required;
- What is to be included in the directors’ declaration.
- What resolutions are required by the members;
- The key filing deadlines and the importance of getting the declaration in on time;
- The need to advise clients of the importance of the declaration and the implications of making a declaration that is untrue.
- Identify which SAP procedures require an auditor’s report and which do not. It will include a quick reminder on the procedures an auditor will need to do.
- A review of the SAP 203 procedure to allow financial assistance for the purchase of own shares and to provide loans between companies within the group. We will also identify how this can be used practically to allow business transactions to happen. We will put forward a basis for how the transactions may benefit the trade which is one requirement in the declaration.
- A review of the SAP 204 procedure to allow a company to reduce its share capital. We will also identify how this can be used practically to allow business transactions to happen. It can be used where applicable for the redemption/buyback of shares or to create distributable reserves.
- A review of the SAP 204 procedure to allow companies to vary company capital even where there are no distributable reserves. We will also identify how this can be used practically to allow business transactions to happen. It can be used where applicable for the transfer of undertakings.
- A review of the SAP 205 procedure to allow the company to allow dividends received from pre-acquisition reserves to be considered distributable. We will identify how this can be used practically to allow future transactions/dividends to be carried out.
- A review of the SAP 206 procedure to allow companies to enter into a merger. We will do a high-level review of the process and the items that a required for a merger.
- A review of the SAP 207 procedure to allow a company to be placed into members voluntary liquidation
CDP Course Facilitator:
Sinead Gortland: OmniPro
Sinead is a key member of the OmniPro Corporate Consultants Technical Support team providing advice and support in relation to Company Law and Company Secretarial procedures.
In addition, Sinead is responsible for carrying out Section 343 applications to the District Court, Company Restorations, Annual Compliance, Company Conversions and Company Law Compliance.
Sinead joined OmniPro in 2016 and quickly became an integral member of our Company Secretarial team. She started off her career in OmniPro as part of our Company Formations team building up her experience and knowledge before eventually moving into Company Secretarial.
Sinead has a Masters Degree from Maynooth University.
John Murphy: OmniPro Tax & Legal
As a lead member of our technical support team, John relishes problem-solving to help accountants develop innovative client solutions and sharing his technical knowledge on tax, financial reporting and auditing.
A Chartered Tax Adviser, he advises clients in practice on a range of issues from income tax, tax planning, restructuring to exit planning. In addition, he provides support on financial reporting, auditing and company law; conducts company valuations and advises on pre-sale restructuring.
John also plays a key role as a researcher and subject-matter expert in developing OmniPro information products such as the CompaniesAct2014.com and FRS102.com. As a speaker at OmniPro CPD events, he brings these industry-leading insights to accountants participating in our training programmes.
A Chartered Accountant and Qualified Financial Adviser, John has over a decade’s Big 4 experience with EY and PwC, providing tax and audit services for a portfolio of clients, ranging in scale from SMEs to multinationals.