The Companies Act 2014 was signed into law on 23 December 2014 and will come into effect on 1 June 2015. The Act will consolidate the various existing Companies Acts, simplify company law generally and introduce a number of new provisions. The Act does not alter the essential nature of an Irish company which has separate legal personality and a board of directors responsible for the management of a company. The Act affects all Irish companies, however the extent to which the Act will impact investment companies and management companies of UCITS or alternative investment funds (AIFs) is different. Investment companies and managers of both UCITS and AIFs need to consider how the Act impacts them, what changes need to be made to their existing corporate structures and when any changes need to be made.