Thomas Byrne (Meath East, Fianna Fail) | Oireachtas source

It is not just a company; it is a company or an undertaking incorporated under the laws of a member state that has limited liability and a constitution. Those are the criteria. It is of course similar to a company but it does not necessarily have to be a company incorporated under Irish law. It is to ensure we know they are properly established. The majority of non-governmental organisations in this space will be registered as companies limited by guarantee. This is not a burdensome requirement. This is standard governance for organisations at that level, and they do it anyway. There is a legal requirement here that I suggest is not going to impose a burden on anyone. It is almost protection for themselves that they would do this without this legislation. The legislation is merely formalising it to ensure transparency is there and they have proper governance.