A large number of companies have 31 December financial year ends in each year and the deadline for submitting your company’s financial statements for the financial year ended 31 December 2018 with your September 2019 annual return in the Companies Registration Office is fast approaching.
The deadline of 28 October 2019 is an extremely busy time of year for both the Companies Registration Office and company secretarial providers alike.
It is now the time to ensure your company’s financial statements are completed, the Annual General Meetings organised and the annual return documentation prepared and in order.
To help you navigate the procedures and timelines for convening and holding your company’s AGM, click here to access our AGM Guidance Map (PDF, 177KB), which identifies issues to consider.
The opening of the Central Register of Beneficial Ownership, as provided for in the EU (Anti-Money Laundering Beneficial Ownership of Corporate Entities) Regulations 2019, has now gone live with effect from 29 July 2019.
Click here for more details on the current information to be filed on the Central Register and the penalties and sanctions for failure to comply.
The deadline to file information on the Central Register is 22 November 2019. Therefore, companies should take immediate action to file their beneficial ownership information prior to this date. Furthermore, they should identify any beneficial owners or senior managing officials who have not been issued with a PPSN and are therefore now obliged to follow the new BEN2 process. The Registrar is currently finalising the technical aspects of the BEN2 process and we will provide further information once available.
Ciara O’Donoghue, Director, KPMG Legal Company Secretarial, acts as the voluntary company secretary of an Irish-run charity called Nandri. This role involves acting as meeting reporting secretary to attend board meetings and ensure that the meetings are held in accordance with good governance principles and to deal with company law issues as they arise, assisting in arranging board meetings (including the formulation of agendas and board packs), preparing draft minutes of the board meetings and providing company law advices as required from time to time.
Nandri's aim is to empower the impoverished mothers in rural villages of Tamil Nadu in south India who are classified as Dalits or Untouchables. Nandri aims to provide long-term sustainable solutions instead of giving short term hand outs. Mothers are provided with loans enabling them to earn an income to feed and educate their children. This greatly contributes to their self-respect and dignity and helps in ending the poverty trap through education and training. So far, Nandri has helped to educate over 5,000 children.
Working with colleagues in Tax and Auditing, the Legal Services team provided legal advice in connection with a High Court approved merger by absorption of two Irish trading companies. The merger was the fourth ever domestic merger to have been approved by the High Court.
Click here for further information. (PDF, 69KB)
Dominating the news, we include some practical Irish company law implications to consider arising from Brexit.
Click here for further information.