Small firms urged to comply with conditions of Companies Act

Small company owners and company secretaries are being urged to undertake their own reviews as the new Companies Act heralds major changes to Irish company structures.

John O’Callaghan, partner at Moore Stephens Nathans Chartered Accountants, said companies will have to take on board the changes in the 2014 Companies Act with immediate effect, including making key decisions on new designations for their long-existing companies.

The vast majority of the measures under the act started to come into force from last week, with the aim of reforming company law and bringing together all company law into the single piece of legislation.