Provision is made for the deregistration of an investment company which continues under the law of a jurisdiction outside the State. A statutory declaration of solvency is to be made in the prescribed form by the director. It is to be vouched by an independent person.<\/p>\n
An application is to be made to the Registrar for deregistration in the State.\u00a0 Prescribed particulars must be delivered. The Registrar publishes the notice of the application in the CRO Gazette.<\/p>\n
The holders of not less than 5% of the share capital or creditors may apply to court on notice to the applicant, the Registrar the Central Bank and all creditors within 60 days after the publication of the CRO notice for an order preventing the proposal of the resolution approving the deregistration.<\/p>\n
The court may make an order prohibiting the deregistration, if it is satisfied that it would contravene the terms of an agreement or arrangement between the applicant and the shareholder or creditor or that the proposed de-registration would be materially prejudicial to any shareholder or creditor of the applicant or the interest of shareholders or creditors or both taken as a whole would be materially prejudiced.<\/p>\n
The application for deregistration must include the prescribed transfer documents.\u00a0 The Central Bank must confirm it has no objection to de-registration, subject to conditions as may be specified.<\/p>\n
Upon deregistration, the company shall enter the particulars of the deregistration, the relevant jurisdiction and the new name of the applicant if different from the name under which it was registered. From the date of registration of the applicant in the relevant jurisdiction, it shall cease to be a company in the State and shall continue for all purposes as a body corporate under the laws of the transferee jurisdiction.<\/p>\n
It does not operate to create a new legal entity, prejudice or affect the identity or continuity of the applicant as previously constituted under the laws of the State, affect any contract made, resolution or other act, things done, affect the rights,\u00a0 authorities, functions and liabilities and obligations of the applicant or other person; or render defective any legal proceedings. Legal proceedings continue notwithstanding de-registration.<\/p>\n\n
\n <\/div>\n\n","protected":false},"excerpt":{"rendered":"
Part 24 Companies Act Part 24 of the Companies Act 2014 applies to investment companies. It reenacts the Companies Act 1990 which provided for companies with variable capital for the purpose of acting as funds. See generally the sections on funds and the various types of entities which may be vehicles for use as funds. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[167],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/12857"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=12857"}],"version-history":[{"count":6,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/12857\/revisions"}],"predecessor-version":[{"id":31876,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/12857\/revisions\/31876"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=12857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=12857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=12857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}