Salvador Nash, Head of Company Secretarial Services, and our company secretarial team have compiled a collection of updates from the Companies Registration Office which highlight developments in, and issues facing, the company secretarial field.
The CRO have announced that their new electronic filing system will go live on 16 December 2020.
The CRO will close from 11th to 15th December for the transition and migration of data with a resulting impact on common CRO’s services such as the processing of incorporations, acknowledgement of mergers and re-registrations of company type.
CRO have indicated that the cut-off date for receiving signature pages for statutory forms generated from the old system (CORE) such as Forms B1 (annual returns), Forms B10 (changes to the board or board member’s details) or Forms A1 (incorporations) is 7 December.
Forms received by the CRO generated on CORE after 7 December will be obsolete and will not be processed.
Incorporations will not be processed under the new system until at least 16 December.
Summary Approval Procedure (“SAP”) filings, which are time critical, can continue to be scanned and delivered to the following email address: email@example.com. SAP filings for members voluntary liquidations should be delivered to the email address detailed below.
The impact the cut off dates and closure of the CRO could have on transactions should be considered now and to the extent possible filings should be made in advance of 7 December 2020. By way of example, if a new company is required prior to Christmas, the incorporation documents should be filed on or before 7 December 2020.
Due to the COVID-19 pandemic the CRO has recently introduced a new interim process to allow for the filing of SAP filings for a members voluntary liquidation. The new process will allow for these signed manual documents to be scanned and emailed into the CRO using the following address: E1SAP@enterprise.gov.ie. They must be emailed to this address only.
Separate emails for the same liquidation cannot be accepted and the onus is on the presenter to ensure that the documents are completed accurately and have reached the CRO on time.
The CRO have advised that this process is being introduced on a short-term basis only to facilitate filing in the current environment and the original documents must be kept by the presenter.
The new one-stage filing deadline of 56 days from a company’s annual return date (“ARD”) will go live on 16 December 2020, over-hauling the current two stage filing process for annual returns and financial statements. Additionally, under the new system, financial statements are required to be uploaded prior to the annual return being filed.
The foregoing does not impact the extension granted to companies with an ARD of 30 September 2020 or later to complete their filings by 26 February 2021.
For more on any of the items above, or any company secretarial related queries, please contact Salvador Nash, Head of Company Secretarial Services.