Seán Sherlock (Cork East, Labour) | Oireachtas source

I move amendment No. 228:

In page 877, to delete lines 36 and 37, and in page 878, to delete lines 1 and 2 and substitute the following:“(5) Subject to their compliance with section 1197(3) (articles must state the number of members with which the company proposes to be registered), articles may otherwise consist solely of a statement to the effect that the provisions of the Companies Act 2014 are adopted and, if the articles contain such a statement, subsection (4) shall apply.”.

The purpose of the amendments is to ensure that the constitution of a company limited by guarantee, which must take the form of a memorandum and articles of association, must state the number of the members with which the company proposes to be registered. This obligation is notwithstanding the provision that allows for a simple statement in the constitution to the effect that the provisions of this Bill are adopted by the company. Should a company extend the number of its members beyond its registered number, the company must notify the registrar within 15 days of the increase. Failure to do so is a category 4 offence.

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