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Company Law question

  • 20-03-2009 9:30am
    #1
    kronsington
    Registered Users, Registered Users 2 Posts: 2,009 ✭✭✭


    hi

    quick question, would appreciate if anyone knew anything about this.


    it's my understanding that if a company fails to lodge its annual returns in a timely manner , that company will receive notification from the CRO stating that late filing penalties will be incurring. as well as this, after a while the CRO will put the company on a list for strike off. Consequences of strike off include vesting of assets of the company in the State, personal liability of directors for debts and risk of the Director of Corporate Enforcement applying to the court to have the directors barred from acting as directors or managers of companies in Ireland for up to 12 years.

    my question is, on receiving a letter from the cro (say they received it yesterday), how long does a company have to get its house in order? where in the companies act might there be info on this? sorry if my facts are muddled. any info on this would be appreciated. thanks


Comments

  • #2
    Tom Young
    Legal Moderators, Society & Culture Moderators Posts: 4,338 Mod ✭✭✭✭Tom Young


    There is a regime in place from the CRO at the moment where an electronic letter is sent to all directors and non-execs to remind them of filing dates. I believe that from the date of the letter there is 28 days from the date of the letter unless it is noted on the front of the letter when the filing is due.

    If matters are in order and the fault is that of the auditor in relation to the filing or preparation of annual account fines and penalties apply which should be paid by the auditor.


  • #3
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,778 Admin ✭✭✭✭✭hullaballoo


    http://www.irishstatutebook.ie/1963/en/act/pub/0033/sec0311.html#zza33y1963s311.

    That would appear to be the position in relation to your question. Basically, the co. has a month to reply. Thereafter, the registrar sends another letter within 2 weeks stating that the co. has a month to reply otherwise a notice will be published in the Iris Oifigiúil with a view to striking the co. off.

    Basically then the co. has 3 months to show it's still carrying on business. You can see the rest yourself.

    I'm open to correction on this because I'm unsure that this provision relates directly to your question and I should be doing my own research at the moment!


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