Irish Government Re-Appoints Companies Law Group

by Jason Gorringe, for LawAndTax-News.com, London

10 May 2008

Micheál Martin, Ireland's Minister for Enterprise, Trade and Employment, has reappointed the members of the Company Law Review Group for the period to 31st May 2010, it was announced on Tuesday.

In making the announcement, Martin stated that: “I am very pleased to reappoint the Members of the CLRG and in particular its Chairman, Dr Thomas B. Courtney, who has chaired the Review Group since its inception in 2000."

"The Members have contributed enormously to the overhaul of our Companies Code and, in particular, to the preparation of the General Scheme of the Companies Consolidation and Reform Bill, which was presented last year.”

Dr Courtney, Chairman of the CLRG, welcomed the reappointments, commenting: “I wish to thank the Minister for his confidence in the CLRG and we are ready to continue to modernise Ireland’s company law regime.”

The CLRG was set up in February 2000, and was accorded statutory advisory status by the Company Law Enforcement Act 2001.

Its task is to advise the minister on the reform and modernisation of Irish company law. In making appointments to the CLRG, nominations are sought from a number of bodies that would be in a position to contribute to the work of the Review Group.

The CLRG is composed of 23 members appointed by the Minister for a period of two years.

It is made up of business representatives, company law practitioners, representatives from business and trade unions and government bodies, including the Department of Enterprise, Trade and Employment, the Revenue Commissioners, the Companies Registration Office, the Office of the Director of Corporate Enforcement, the Irish Auditing and Accounting Supervisory Authority and the Financial Regulator.

The principal work of the CLRG since its inception has been the consolidation and reform of company law. The CLRG submitted the General Scheme of the Companies Consolidation and Reform Bill in March 2007, which was approved for drafting by the Office of the Parliamentary Counsel in July 2007.

Drafting began in December 2007, and the process is expected to be completed by the end of July 2009.

The new Companies Bill will radically overhaul the present companies code in Ireland by putting the ‘private limited company’ (which accounts for 90% of Irish companies) at the heart of the legislation, and through a number of reforms designed to ease the burden of establishing and operating a company.

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