Although the Companies Act 2006 removed the requirement for private companies in the UK to formally appoint a company secretary, the duties, obligations and various tasks previously undertaken by the company secretary still exist. Given this, it is common for large companies to appoint an in-house chartered secretary to fulfil the role. However many small and medium size enterprises (SMEs) are unable to employ a chartered secretary due to the high cost involved. For such companies it can often be more cost effective and practical to engage a company secretarial service provider to undertake the tasks as and when required.Read More
Pearse Trust Blog
For those establishing a trust, one of the first things to consider is who to appoint as trustee. Some might consider a trusted advisor or a professional trust and services company. Others might consider establishing a private trust company (PTC). This article with discuss PTCs.Read More
The EU (Anti Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 (SI 560 of 2016) (“the Regulations”) were commenced on 15 November 2016. Their purpose was to transpose Article 30(1) of the EU Fourth Money Laundering Directive (MLD4) into Irish law.Read More
New legislation introduced in the Irish Finance Act 2016 and signed into Irish law by the President at the end of December 2016, provides for a new tax regime for Irish Real Estate Funds (IREFs).
While the details remain sketchy, here we look at how the new tax may impact property fund investors.Read More
Favourable Irish tax treatment exists with regard to the transfer of shares in Irish companies between non-Irish residents.
Where carefully structured, no Irish Capital Gains Tax (“CGT”) will arise on the disposal by a non-Irish resident individual or corporate of the shares in the Irish company.
Also, depending on the market value of the shares in the Irish company or whether any relief is possible under Irish tax law, no Irish stamp duty may arise on the acquisition by a non-Irish resident individual or corporate of a shareholding interest in an Irish company.Read More
The United Kingdom’s Enterprise Investment Scheme is a tax-based Venture Capital Scheme designed to help smaller, higher-risk trading companies raise finance. According to recent figures, the scheme encouraged taxpayers to invest almost £2bn in 2014-15.Read More
In Irish company law, a “golden share” is a particular type of share, issued for the sole purpose of giving its holder the power to control the board of directors of the company which has allotted the golden share.Read More
A proxy is a person who is designated by a member of a company to attend a general meeting and vote in place of that member.
Section 136 of Companies Act 1963 provides that any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint another person (whether a member or not) as his/her proxy to attend and vote instead of him/her. A proxy so appointed shall have the same right as the member to speak at the meeting and to vote on a show of hands and on a poll.Read More
Further to June’s Brexit vote, the UK continues to strive towards showing that it remains a major economic player, remaining firmly open for business.
Amidst the uncertainty, there have fortunately been a number of positive events which help reinforce the ‘open for business’ mantra, some of which are summarised in brief in today's blog post.Read More
The Cadbury Committee 1992 defined corporate governance as "the system by which companies are directed and controlled." Numerous theories have been proposed on corporate governance best practice, none more popular than the shareholder and stakeholder theories.Read More
Tags: Corporate Governance