Virtual and hybrid AGMs now possible due to new order
It will be possible to hold virtual or hybrid AGMs and other general meetings of companies and societies as a result of the signing of an order commencing new legislation from today.
The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 will also give more powers to the Corporate Enforcement Authority (CEA).
It will make it an offence to obstruct, interfere with or impede an officer of the CEA.
The list of competent authorities to which the CEA can disclose information will also be extended and specified bodies will also be able to disclose information to the CEA.
The legislation will also provide additional grounds for involuntary strike off of companies and make certain amendments to the rescue process for small and micro firms.
It will also enable the Irish Auditing and Accounting Supervisory Authority (IAASA) to issue an interim direction in certain circumstances.
In total, 64 of the Act’s 90 provisions are being given effect.
“The Act strengthens the State’s capability to investigate company law breaches by equipping the CEA with increased powers to investigate evidence of corporate wrongdoing,” said Minister of State for Trade Promotion, Digital Transformation and Company Regulation Dara Calleary.
“Similarly, the Act confers additional powers on IAASA and the CRO,” he said.
“These measures will equip our enforcement agencies to tackle incidences of white-collar crime and corruption and will further boost Ireland’s reputation as a well-regulated and transparent economy,” he added.
Article Source – Virtual and hybrid AGMs now possible due to new order – RTE
