Important Deadline Dates for Private Limited Companies

By jasinnottadmin, Tuesday, 7th June 2016 | 0 comments
Filed under: Company Law.

With 1,448 sections and 17 schedules, the Companies Act 2014 is the largest piece of legislation to ever be enacted in the history of the State.

The Act makes provision for new types of private company. Two of these new-form companies are a Company Limited by Shares (CLS or Ltd) and a Designated Activity Company (DAC).

Here is a comparison of both options:

New LTD Company Model (CLS)

Designated Activity Company Model

It may have just one director but it must have a separate secretary if it has only one director.

It must have at least two directors.

It can have between 1 and 149 members.

It can have between 1 and 149 members.

It does not need to hold an AGM.

It is required to hold an AGM where there are 2 or more members.

It has a one-document constitution which replaces the need for a memorandum and articles of association.  It will not have an objects clause because it has full unlimited capacity to carry on any legal business, subject to any restrictions in other legislation.

It has a constitution document which includes a memorandum and articles of association. It has stated objects for which the company was incorporated.

It can claim eligibility for audit exemption (and dormant company audit exemption).

It can claim eligibility for audit exemption and dormant company audit exemption.

It has limited liability and has a share capital. It is a Private company.

It is a Private company and has limited liability. It has a share capital or is a private company limited by guarantee with a share capital.

It can pass majority written resolutions (special and ordinary).

It can pass majority written resolutions.

Name must end in “Limited” or “Teoranta

Name must end in “Designated Activity Company” or “Cuideachta Ghníomhaíochta Ainmnithe” unless qualified for an exemption.

Some important deadlines to be aware of if you are a private limited company:

1st June 2015

New Act commences.  

Newly incorporated companies will be registered as one of the relevant new company types - LTD, DAC, CLG, PLC, PUC, PULC, ULC.

All existing private companies limited by shares will operate under Part 16 of the Act dealing with Designated Activity Companies until the end of the Transition Period only. 


31st August 2016

Final date for companies who wish to convert by re-registration to Designated Activity Company (DAC) to initiate procedure.

Thereafter may only re-register following procedure under Part 20 or following a court order.


30th November 2016

Transition Period ends.

Private limited companies will automatically be converted to a CLS if no choice is made by this date.


If you need advice or assistance, contact us today.

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