No 41 of 2006 - Investment Funds, Companies and Miscellaneous Provisions Act 2006
What does this law do?
The Investment Funds, Companies and Miscellaneous Provisions Act 2006 makes a number of amendments to the Companies Acts 1963-2005 dealing with matters relating to:
oPrivate Companies and their ability to offer shares and debentures;
o Increase of audit exemption thresholds;
o Dematerialisation of securities certification;
o Guarantor liability for prospectus content; and
oConsent of experts relating to material provided by them in Prospectuses;
The Act also facilitates the transposition of the EU Transparency Directive which is due to be transposed into Irish law by January 2007; amends the Takeover Panel Act 1997 including provisions to complete the transposition of the EU Takeovers Directive which was transposed into Irish law to meet the EU deadline of 20 May 2006; and amends the Consumer Information Act 1978 to allow for the appointment of a person to perform the functions of the Director of Consumer Affairs for a period of more than 6 months. It also provides for Statutory Declarations to be made abroad for the purposes of the Companies Acts and amends the Netting of Financial Contracts Act 1995 to ensure the protections of that Act for Common Contractual Funds.
Contact Department:
Department of Enterprise, Trade and Employment
Signed by the President on:
24 December 2006
Full version of this Act can be found on the Oireachtas website.