Pensions Update, Summer 2015

23-06-2015

Author: Declan Drislane, Philip Smith, Catherine Austin, Sarah McCague, Katherine Hayes and Marie McQuail



The new Companies Act, 2014 (the “Act”) was generally commenced with effect from 1 June 2015. As previously noted, the Act involves an overhaul of the existing company law regime in place since the 1960s. The Act segregates companies by corporate type and applies different law to each type of company. There is an 18 month transition period (commencing 1 June 2015) during which all existing private limited companies will be dealt with as though they are designated activity companies (“DACs”). At the end of the transition period, they will be deemed to have become new model private companies (“LTDs”) unless they elect to become DACs or some other type of company. Read the latest update from our Pensions Group here, for further information on this and other news.

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