Interim Period for Holding Virtual General Meetings Extended

Special measures under the Companies (Miscellaneous Provisions) (Covid 19) Act (the Act) were introduced in August 2020 as the onset of the pandemic worsened and began to have a profound effect on normal corporate governance and administration within Irish companies. The measures were introduced to, among other things, alleviate some of the practical difficulties that companies were then encountering in attempting to fulfil their company law obligations. Initially in place until the end of 2020 and extended periodically since, certain provisions of the Act have been extended again – this time to 31 December 2022 (the Interim Period).

The Act allows for companies to, among other things:

• Hold general meetings virtually, in whole or in part. There is no requirement for meetings to be held at a physical venue, provided that all of those who are entitled to attend have a reasonable opportunity to participate, and
• Execute hard copy documents requiring a company seal, such as leases, share certificates, etc., in counterparts with the seal and the necessary signatures each on separate pages.

Conclusion

The extension of the Interim Period is a reflection of the flexibility which the measures brought to certain aspects of corporate governance and administration within companies. The measures have proved very popular and will continue to assist companies in managing their affairs more efficiently.

For expert legal guidance on any company law queries you may have, please contact a member of our Corporate Governance & Compliance team.

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