Capital reductions in Ireland


Author: Colin Monaghan and Domhnall Breatnach

New procedures for approving capital reductions are set out in the Companies Act 2014, which came into operation on 1 June 2015. A capital reduction is the means by which a company can reduce its capital in order to, among other things, create distributable reserves or return surplus capital to its members. Capital reductions can now be carried out, in certain cases, without seeking High Court approval, using a new Summary Approval Procedure.  Where this procedure is not permitted or appropriate, High Court approval is required.

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