Enforcement

The OCDE

ODCE I The Office of the Director of Corporate Enforcement (“ODCE”) was established in 2001. It is staffed by members of An Garda Siochana, accountants, administrators and lawyers. It was designed to improve compliance with company law.… Read the rest

Strike Off

Striking Off of Companies There are provisions for the voluntary and involuntary strike off of companies from the register of companies. On strike off, the company ceases to exist and its assets vest in a State authority.… Read the rest

Restriction Process

Restriction and Disqualification Directors may be subject to restriction or disqualification if they are found not to have met minimum standards in the conduct of the company’s affairs. The provisions in relation to restriction and disqualification apply both to directors and to persons who are in effect directors, although not formally appointed.… Read the rest

Restriction of Directors

Liquidator’s Obligations I A liquidator is obliged to apply to make an application to the court to restrict the directors of an insolvent company unless excused from so doing by the ODCE. The liquidator must give his views regarding whether steps should be taken to restrict or disqualify the directors, to the ODCE.… Read the rest

Restriction Effect

Restriction Order If a declaration of restriction is made, it lasts for five years unless varied. A person who is restricted may apply within a year for relief, either in whole or in part, from the restrictions. … Read the rest

Restoration

Post-Dissolution When the fact that the company has been struck off is published in the CRO Gazette, the company is dissolved. When a company has been dissolved, it ceases to exist. It can neither sue nor be sued. … Read the rest

Reckless Trading

Personal Liability The directors and other persons engaged in the management of a company may be made personally liable to contribute towards the payment of the debts of the company in a winding up, where they have been found to have been engaged in fraudulent or reckless trading.… Read the rest

Offences

General I Summary proceedings against a company or an officer of the company may be brought in the District Court for the district where the registered office of the company is situated, before the commencement of proceedings. … Read the rest

ODCE Investigation

Investigatory Powers I The ODCE may require the production of documents in order to consider the possible exercise of its own powers or an application to the court for the appointment of inspectors. It may require the production of documents.… Read the rest

Fraudulent Trading

Fraudulent Trading A person who knowingly carries on the business of a company with fraudulent intent is guilty of a serious criminal offence. It may be tried summarily or on indictment. Any person who is knowingly a party to the carrying on of a business with intent to defraud creditors, or for a fraudulent purpose is guilty of the offence. … Read the rest