Prospective changes to company law
Changes to company law 2024
Legislation now in force
The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024.
This legislation was enacted in May 2024 and commenced on 1 July 2024. The legislation provides increased protection to employees of insolvent companies.
Click the link for an Institute publication on the changes to the Companies Act,2014.
Please click the links below for insights from a number of law firms on the legislation:
Arthur Cox LLP
RDJ LLP
Addleshaw Goddard LLP
A & L Goodbody LLP
Company thresholds
The size criteria for companies micro,small and medium were changed from 1 July 2024. For more information please click to go to our dedicated webpage on company law thresholds.
Draft legislation
Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill 2024
The General Scheme of the bill was published by the Department of Enterprise ,Trade and Employment (DETE) in March 2024 .Details can be found on this DETE page. Please see a news item produced by the Institute setting out some of the proposed provisions which if enacted may be of interest to members.
Some months after publication of the general scheme DETE published a draft bill in late July 2024. The Bill includes substantially all the provisions of the previous General Scheme published in March 2024 to update the Companies Act 2014, though some of the provisions contained in the General Scheme in relation to the Corporate Enforcement Authority are not included in the Bill. Please click to read a further overview article on some of the proposed key changes from changes to audit exemption rules to registered office, in the draft legislation.
Proposals of the General Scheme for Limited Partnerships and Business Names Bill 2024
The heads of the General Scheme of the Registration of Limited Partnerships and Business Names Bill 2024 was published in July 2024. The General Scheme is accompanied by a Regulatory Impact Analysis. The General Scheme proposes to repeal and replace the Limited Partnerships Act 1907 and the Registration of Business Names Act 1963. Subsequently ,in August 2024 government approval was secured to commence drafting of the Miscellaneous Provisions (Registration of Limited Partnerships and Business Names) Bill. The proposed Bill would repeal and replace the Limited Partnerships Act 1907 and the Registration of Business Names Act 1963. Both Acts require updating to provide for modern business practices for those engaged in business using a business name or the limited partnership model. Please click here for an article by law firm Pinsent Masons LLP, an article by law firm Addleshaw Goddard LLP and an article by KPMG Law LLP on the proposals.
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