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ODCE and the Companies Act

  • 03-09-2009 8:59pm
    #1
    Registered Users, Registered Users 2 Posts: 6,344 ✭✭✭


    Just reading some information from the ODCE?

    I've read their FAQ but still have a few questions. My understanding is
    1) You lodge a complaint, with relevant documentation etc
    2) The ODCE decides whether to act on it

    My questions are
    • If they decide not to act, do they notify you?
    • It seems that even if they act, and do something, you might never find out - is this accurate?
    • Point 8 in their FAQ bothers me - they may not act on something if they lack the legal powers to intervene effectively - presumably if someone has broken a law set down in the Companies Act, the ODCE should have the legal power to intervene?
    • If it is found that, say, a company secretary has neglected to fulfill their obligations, would they be fined personally, or is it the company that is fined? Let's say that the Companies Act says all companies are supposed to buy a bottle of vodka once a year. The secretary is repeatedly reminded of this, but he ignores it or refuses. Is the company or the secretary at fault?


Comments

  • Registered Users, Registered Users 2 Posts: 78,647 ✭✭✭✭Victor


    Thoie wrote: »
    Is the company or the secretary at fault?
    I imagine the secreteary, although that would need to be checked. The company may have repsonsibilites to make sure the secretary did their job.

    Certainly directors who fail in their responsibilities can be held personally liable.


  • Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    Creditors and members of a company can apply to court to enforce parts of the companies act themselves.

    Generally its the personal liabiltiy for the individual, though a companies memorandum of association may authorise the company to indemnify or purchase insurance to indemnify directors/officers of the company.


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