Compliance Agenda - October 2020

PUBLISHED: 13th October 2020

We are delighted to publish the latest edition of our newsletter, Compliance Agenda. It contains a round-up of all the latest legal updates of interest to Company Secretaries, Company Directors and Compliance Officers.

New Annual Return Filing Extensions Announced

The Companies Registration Office (CRO) previously announced that the annual return filing extension was extended from 30 June 2020 to 31 October 2020 due to the evolving situation with the COVID-19 pandemic.

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Brexit: Review Governance of Companies before 31 December 2020

The Brexit transition period will end on 31 December 2020.  Following the transition period, UK resident individuals and UK resident companies will no longer be resident in the EEA. 

The EEA residency requirements have significant implications for many Irish companies and action should be taken now to ensure compliance with Irish legislation.

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New IT Infrastructure at the Companies Registration Office: Will it Affect You?

The Companies Registration Office (“CRO”) is undergoing a digital transformation.  The existing CORE (Companies Online Registration Environment) system, which has in use for over 22 years, is being replaced. 

It was expected that the new system would go live during September 2020, but the launch has been postponed until December 2020 in order to limit disturbances to stakeholders during the peak annual return filing period.

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Directors Duties During the Ongoing Crisis

Directors, take note. Your duties have never been so important.

Directors of Irish companies will no doubt be aware of the many challenges their companies have faced over the last six months therefore, it is an opportune time to remind directors of the importance of fulfilling their statutory and fiduciary duties and responsibilities along with their other obligations. 

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If you require assistance with such an application, or with any other company secretarial matters, our highly experienced Company Secretarial Team is on hand to assist.  Please contact a member of our team:

Colm Hanley at chanley@lkshields.ie

James Carolan at jcarolan@lkshields.ie

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