The Companies Act 2014 consolidates the existing Companies Acts and will replace the Companies Acts 1963-2013.

It was signed into law by the President of Ireland on 23rd December 2014 and will come into effect on 1 June 2015.

It also introduces a number of reforms which are designed to make it easier to operate a company in Ireland.


The Companies Act 2014 permits the following company types:

DAC – Designated activity company limited by shares/limited by guarantee with share capital

LTD – Private company limited by shares

PLC – Public limited company

CLG – Company limited by guarantee

ULC – Private unlimited company having a share capital

PULC – Public unlimited company not having a share capital

All new companies must include one of the above designations in their name

Existing Private Companies (epcs) do not automatically become LTD companies on the commencement date.

  • They operate under DAC legislation for the duration of the Transition Period.
  • They do not have to change their name during the Transition Period
  • They cannot avail of the features of the LTD company without having been converted first

Designated Activity Company (DAC) main features:

  • They have a memorandum in their constitution which state the objects for which the company is incorporated
  • It is bound by the ultra vires rule
  • It must have at least two directors.
  • It must hold an AGM
  • Can’t operate majority written resolutions

Limited Company (LTD) main features

  • The ultra vires rule does not apply so there is no restriction on what business the company can carry on as long as it is not illegal
  • It has a constitution instead of Memorandum and Articles of Association
  • It can have a single director