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Irish Businesses Receive Extended Virtual Meeting Relief: Companies Act Amendments Continue Throughout 2024
By Shannon Power, 8th January 2024
In a significant move to support businesses navigating the challenges posed by the ongoing COVID-19 pandemic, Minister for Trade Promotion, Digital, and Company Regulation, Dara Calleary TD, recently announced that the interim period of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 related to the holding of virtual meetings, including Annual General Meetings (AGMs), in Ireland will now continue until the 31st of December 2024.
The Act makes temporary amendments to the Companies Act 2014 and the Industrial and Provident Societies Act, 1893 to address issues arising as a result of COVID-19. The temporary provision of the Act allows 240,000 companies and 950 industrial and provident societies in Ireland to hold their Annual General Meetings (AGMs) and general meetings by electronic means. This development underscores Ireland’s commitment to fostering a flexible and accessible business environment, particularly in light of ongoing challenges related to the global pandemic. The decision to extend the virtual AGM deadline reflects a proactive approach to adaptability and technological innovation.
As outlined in the official statement from the Department of Enterprise, Trade, and Employment, Minister Calleary emphasised the importance of providing businesses with the tools and flexibility needed to conduct AGMs efficiently. The extension to virtual AGMs is seen as a positive step towards ensuring that companies can navigate the evolving landscape with ease while prioritising the safety and well-being of participants. This extension enables companies across Ireland to leverage digital platforms and virtual meeting technologies to convene their AGMs, facilitating seamless communication and collaboration among stakeholders.
If you have any additional questions regarding the extension to the Act or Annual General Meetings, please do not hesitate to contact the Company Bureau team! Give us a call at +353(0)1 6461625 or fill out our online contact form.
Disclaimer This article is for guidance purposes only. It does not constitute legal or professional advice. No liability is accepted by Company Bureau for any action taken or not taken in reliance on the information set out in this article. Professional or legal advice should be obtained before taking or refraining from any action as a result of this article. Any and all information is subject to change.
