Work of the Company Law Administration Section

Obligations to show particulars on headed paper

Section 196(1) of the Companies Act 1963 obliges a company to indicate particulars relating to its directors on its business letters. Section 196(2) of the Companies Act 1963 empowers the Minister for Enterprise, Trade and Employment to grant, subject to certain conditions, an exemption to this requirement. Further information on applications for exemptions from obligations to show particulars of directors on headed paper.

Financial year of holding company and subsidiary

The directors of a holding company are required to ensure, except where there are good reasons to the contrary, that the financial year of each of its subsidiaries coincides with the company's own financial year.

Under the provisions of Section 153 of the Companies Act, 1963 (as amended by Section 61 of the Company Law Enforcement Act 2001), the Minister may, on the application or with the consent of the directors of a company, direct that the holding of an annual general meeting and the submission of its accounts to the meeting may be postponed from one calendar year to the next with a view to enabling the subsidiary's financial year to end with that of the holding company. It is the practice to approve such applications.

Business Expansion Scheme (BES)

The sole function of the Minister for Enterprise, Trade and Employment in relation to BES funds is to ensure that the prospectus and publicity material for a fund give prospective investors the information required to make an objective decision when deciding to invest in a particular fund. More details regarding the Business Expansion Scheme.

Company investigations

Three investigations under company law are being undertaken on behalf of the Department on foot of earlier action by the Minister for Enterprise, Trade and Employment, prior to the establishment of the Office of the Director of Corporate Enforcement (ODCE).

Following the establishment of the ODCE on 28 November 2001, responsibility for the investigation and summary prosecution of breaches of the Companies Acts now rests with the Director of Corporate Enforcement. The Registrar of Companies also has enforcement powers in relation to offences regarding failure to file returns with the Companies Registration Office (CRO).

Commercial Agents

In 1986 the European Community adopted a Council Directive 86/653 EEC of 18/12/86 obliging Member States to give legal protection to self employed commercial agents. This Directive was enacted into Irish Law by the Minister for Enterprise, Trade and Employment by two statutory instruments SI No. 33 of 1994, and SI No. 31 of 1997. The Directive and these two statutory instruments set out legislative provisions governing the relationship between commercial agents and their principals in this country. More details regarding Commercial Agents.