Notice on Companies Act 2014 for Limited Company Sound & Vision Contractors

This notice relates to companies only.  If you are a broadcaster, individual, sole trader or co-operative society you may disregard this notice.

We write in relation to the Companies Act, 2014 which came into effect on the 1st June 2015.  The new legislative provisions consolidate the law relating to Irish companies and introduce changes and/or new requirements for various types of corporate entities.  In particular, the Act introduces two new company models for existing private companies limited by shares: a Limited Company (“LTD”) and a Designated Activity Company (“DAC”).  Private companies limited by shares can elect to register as one of these two new company models within an 18 month transition period up to the 30th November 2016.[1] 

Accordingly, the new legislative provisions will require Contractors who are companies limited by shares to implement changes to their company model and adopt a new company constitution and company name.  If this change is implemented by you prior to delivery for the next tranche payment of your Sound & Vision contract/s (“Contract”) then an amendment to said Contract is required reflect such changes. 

The choice of company model is a matter for the Contractor and the Contractor must take the necessary steps to effect registration in accordance with the provisions of the 2014 Act.   In accordance with the terms of the Contract, however, the Contractor is required to notify the Authority in respect of some of the changes necessitated by the new Act, including any adoption of a new Constitution to replace its memorandum and articles of association and any change to Contractor name. 

In order to facilitate this notification an additional deliverable has been added to the next Tranche of your record on www.baionline.ie.  If you have implemented changes to your Company name and/or constitution (Memo and Arts) at the time of tranche delivery please upload the relevant documents.  If, at the time of tranche delivery, you have not yet implemented these changes, please provide confirmation of same.  Alternatively, if you implement changes under the Act and wish to process this information sooner, you may submit a variation request to the relevant Contract via www.baionline.ie

If you have any questions or wish to discuss further, please contact Nuala Dormer (ndormer@bai.ie).



[1] Companies electing to register as a DAC must initiate the procedure by the 31st August 2016. 

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