Resigning as director of an Irish company?

OU812 · 18-05-2016 9:44pm #1

Does anyone know what the situation is with resigning as director of an Irish company?

I know there did have to be two directors (which this was), but I believe the law was changed last year so a limited company could be just one person.

Is it possible to resign as part of a 2 director company to leave it as a 1 director company?

pedroeibar1 · 19-05-2016 9:01am

It is possible but quite a few issues need to be addressed first – The Co. must be converted to the new ‘LTD’ format first, all changes that require a quorum must first be done, and remember that in a single director company the director cannot also be the Company secretary.

OU812 · 19-05-2016 12:41pm

The company is a Ltd already. Does this make a difference (i.e. is there two types of Ltd.)?

pedroeibar1 · 19-05-2016 2:26pm

Yes, they are different - the old companies (multi-director) are Ltd and the new one director company is styled LTD. Also, I should mention that since the new Act the Co. Sec is now required to acknowledge the legal obligations/duties that come with the role, and the directors are responsible to ensure that the Co Sec has the requisite skills.

You can be pro-active and do the Ltd/LTD change yourself or slip into it at the end of this year. See HERE

OU812 · 19-05-2016 2:36pm

Much obliged

MrCostington · 19-05-2016 3:25pm

What pedroeibar1 is correct, I converted my company back in March, your accountant can do it for you, there are just a few forms to sign.

My situation was opposite to you, my co director actually has nothing to do with the company, was just there to make up the required 2 directors so he was able to resign.

The company will need a secretary. Im my case, my accountant kindly offered to fill that role - that may help your case.

Resigning as director of an Irish company?

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