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Uimhir 13 de 1983
ACHT NA gCUIDEACHTAÍ (LEASÚ), 1983
[An tiontú oifigiúil]
PART 1
Réamhráiteach
Gearrtheideal, comhlua agus tosach feidhme.
1.—(1) Féadfar Acht na gCuideachtaí (Leasú), 1983, a ghairm den Acht seo.
(2) Folóidh an comhlua “Achtanna na gCuideachtaí, 1963 go 1983” an tAcht seo.
(3) Tiocfaidh an tAcht seo i ngníomh cibé lá a cheapfaidh an tAire le hordú.
Léiriú.
2.—(1) San Acht seo mura n-éilíonn an comhthéacs a mhalairt—
ciallaíonn “an lá ceaptha” an lá a bheidh ceaptha ag an Aire faoi alt 1(3) chun an tAcht seo a theacht i ngníomh;
ciallaíonn “an ráta iomchuí” i ndáil le hús, cúig faoin gcéad sa bhliain nó cibé ráta eile a shonrófar le hordú ón Aire faoi fho-alt (7);
tá le “an t-íosmhéid údaraithe” an bhrí a shanntar dó le halt 19;
ciallaíonn “datá an chláir chomhardaithe”, i ndáil le clár comhardaithe, an dáta ar ina leith a rinneadh an clár comhardaithe a ullmhú;
ciallaíonn “scairchaipiteal glaoite” i ndáil le cuideachta, an oiread sin dá scairchaipiteal is ionann agus méid comhiomlán na nglaonna a rinneadh ar a scaireanna, cibé acu atá na glaonna sin íoctha nó nach bhfuil, mar aon le haon scairchaipiteal a íocadh gan bheith glaoite agus aon scairchaipiteal a bheidh le híoc ar dháta sonraithe sa todhchaí faoi na hairteagail, faoi théarmaí leithroinnte na scaireanna iomchuí nó faoi aon chomhshocraíochtaí eile chun na scaireanna sin a íoc, agus forléireofar “scairchaipiteal neamhghlaoite” dá réir sin;
ciallaíonn “Achtanna na gCuideachtaí” na hAchtanna a ndéanfar, de bhua fho-alt (5), iad a fhorléiriú mar aon Acht amháin;
ciallaíonn “scair-scéim fostaithe” aon scéim atá i bhfeidhm de thuras na huaire ar dá réir a spreagann nó a éascaíonn cuideachta sealbhú scaireanna nó bintiúr sa chuideachta nó ina cuideachta shealbhaíochta ag fostaithe nó iarfhostaithe, nó chun sochair d'fhostaithe nó d'iarfhostaithe den chuideachta nó d'aon fhochuideachta don chuideachta lena n-áirítear aon duine atá nó a bhí ina stiúrthóir agus fostaíocht nó oifig thuarastail aige sa chuideachta nó in aon fhochuideachta don chuideachta;
tá le “urrús cothromais” an bhrí a shanntar dó le halt 23 (13);
ciallaíonn “an tréimhse eatramhach ghinearálta” an tréimhse 18 mí dar tosach an lá ceaptha;
tá le “comhaontú fruilcheannaigh” an bhrí chéanna atá le “comhaontú fost-cheannaigh” san Acht Fost-Cheannaigh, 1946;
ciallaíonn “an tAire” an tAire Trádála, Tráchtála agus Turasóireachta;
ciallaíonn “sócmhainn nach sócmhainn airgid” aon mhaoin nó leas i maoin seachas airgead (lena n-áirítear airgeadra coigríche);
tá le “seanchuideachta phoiblí theoranta” an bhrí a shanntar dó le halt 12 (1);
ciallaíonn “an Príomh-Acht” Acht na gCuideachtaí, 1963;
ciallaíonn “cuideachta phoiblí” cuideachta nach cuideachta phríobháideach;
ciallaíonn “cuideachta phoiblí theoranta” cuideachta phoiblí faoi theorainn scaireanna nó cuideachta phoiblí faoi theorainn ráthaíochta a bhfuil scairchaipiteal aici, agus ar cuideachta í—
(a) a ndearbhaíonn a meabhrán gur cuideachta phoiblí theoranta a bheidh sa chuideachta; agus
(b) ar comhlíonadh i ndáil léi, an lá ceaptha nó dá éis, forálacha Achtanna na gCuideachtaí maidir le clárú nó athchlárú cuideachta mar chuideachta phoiblí theoranta;
tá le “an tréimhse athchlárúcháin” a bhrí a shanntar dó le halt 13 (1);
ciallaíonn “an tréimhse eatramhach do scairchaipiteal” an tréimhse 3 bliana dar tosach an lá ceaptha.
(2) I ndáil le leithroinnt scaireanna i gcuideachta, is tuigthe, chun críocha Achtanna na gCuideachtaí, na scaireanna bheith leithroinnte nuair a bheidh an ceart neamhchoinníollach faighte ag duine go n-áireofaí é i gclár chomhaltaí na cuideachta i leith na scaireanna sin.
(3) Chun críocha Achtanna na gCuideachtaí—
(a) is tuigthe scair i gcuideachta a bheith íoctha (ó thaobh a luach ainmniúil nó aon phréimhe uirthi) in airgead nó leithroinnte ar airgead más éard í an chomaoin i leith na leithroinnte nó na híocaíochta, airgead a fuair an chuideachta nó seic a fuair an chuideachta de mheon macánta agus ar seic é nach bhfuil aon chúis ag na stiúrthóirí amhras a bheith orthu nach n-íocfar é, nó scaoileadh ar dhliteanas na cuideachta i leith suime leachtaithe nó gealltanas airgead a íoc leis an gcuideachta ar dháta sa todhchaí; agus
(b) i ndáil le haon scaireanna i gcuideachta a leithroinnt nó a íoc, folaíonn tagairtí in Achtanna na gCuideachtaí, ach amháin in alt 23, do chomaoin seachas airgead agus do scaireanna agus do phréimheanna ar scaireanna a íoc ar shlí seachas in airgead, tagairtí d'airgead a íoc, nó do ghealltanas airgead a íoc, le haon duine seachas an chuideachta;
agus chun a chinneadh an bhfuil scair leithroinnte nó le leithroinnt ar airgead nó íoctha nó le híoc in airgead, folaíonn “airgead” airgeadra coigríche.
(4) Chun críocha an Achta seo—
(a) folóidh aon tagairt do chlár comhardaithe nó do chuntas sochair agus dochair tagairt d'aon nótaí orthu nó d'aon doiciméad i gceangal leo ina dtugtar faisnéis a cheanglaítear le hAchtanna na gCuideachtaí agus a cheadaítear leis sin a thabhairt amhlaidh;
(b) folaíonn aon tagairt d'aistriú nó d'fháil sócmhainne nach sócmhainn airgid tagairt do bhunú nó do mhúchadh eastáit nó leasa in aon mhaoin nó cirt thar aon mhaoin mar aon le tagairt d'urscaoileadh dliteanais aon duine, seachas dliteanas i leith suime leachtaithe; agus
(c) is é is glansócmhainní cuideachta ann, comhiomlán a sócmhainní lúide comhiomlán a dliteanais;
agus i mír (c) folaíonn “dliteanais” aon soláthar (de réir bhrí an Séú Sceideal a ghabhann leis an bPríomh-Acht) ach amháin sa mhéid go gcuirtear an soláthar sin i gcuntas chun luach aon sócmhainne de chuid na cuideachta a ríomh.
(5) Déanfar Acht na gCuideachtaí, 1963, Acht na gCuideachtaí (Leasú), 1977, Acht na gCuideachtaí (Leasú), 1982, agus an tAcht seo, a fhorléiriú le chéile mar aon Acht amháin.
(6) San Acht seo—
(a) aon tagairt do Chuid, d'alt nó do Sceideal is tagairt í do Chuid nó d'alt den Acht seo, nó do Sceideal a ghabhann leis an Acht seo, mura gcuirtear in iúl gur tagairt d'achtachán éigin eile atá beartaithe;
(b) aon tagairt d'fho-alt, do mhír nó d'fhomhír is tagairt í d'fho-alt, do mhír nó d'fhomhír san fhoráil ina bhfuil an tagairt mura gcuirtear in iúl gur tagairt d'fhoráil éigin eile atá beartaithe; agus
(c) aon tagairt d'aon achtachán eile déanfar, mura n-éilíonn an comhthéacs a mhalairt, í a fhorléiriú mar thagairt don achtachán sin arna leasú le haon achtachán eile nó faoi aon achtachán eile, lena n-áirítear an tAcht seo.
(7) Féadfaidh an tAire le hordú a shonrú gur ráta seachas cúig faoin gcéad sa bhliain an ráta iomchuí úis chun críocha an Achta seo.
Leasuithe, aisghairm agus cosaintí.
3.—(1) Déantar leis seo forálacha an Phríomh-Achta a shonraítear sa Chéad Sceideal a leasú a mhéid a shonraítear sa Sceideal sin.
(2) Déantar leis seo forálacha an Phríomh-Achta agus Acht na gCuideachtaí (Leasú), 1982, a shonraítear sa chéad cholún den Tríú Sceideal a aisghairm a mhéid a shonraítear sa dara colún den Sceideal sin.
(3) Ní dhéanfaidh míreanna 24 and 25 den Chéad Sceideal (a leasaíonn Table A agus Tábla A faoi seach sa Chéad Sceideal a ghabhann leis an bPríomh-Acht) ná aon aisghairm a shonraítear sa Tríú Sceideal ar aon ní atá sa Table sin A agus sa Tábla sin A difear d'aon chuideachta a cláraíodh roimh an lá ceaptha.
(4) Sa Phríomh-Acht, aon tagairt do chuideachta a cláraíodh faoi aon achtachán sonraithe leanfaidh sí d'éifeacht a bheith léi mar thagairt do chuideachta a cláraíodh faoin achtachán sin, d'ainneoin go ndearnadh í a athchlárú ina dhiaidh sin faoin Acht seo.
CUID II
Ainm cuideachta poiblí teoranta, clárú agus athchlárú cuideachtaí
Ainm cuideachta poiblí teoranta.
4.—(1) Ní foláir d'ainm cuideachta poiblí teoranta críochnú leis na focail “public limited company” nó “cuideachta phoiblí theoranta” a fhéadfar a ghiorrú go “p.l.c.” nó “c.p.t.” faoi seach, agus ní chuirfear an focal “limited” ná a ghiorrú “ltd.” ná “teoranta” ná a ghiorrú “teo.” roimh na focail nó na giorruithe sin.
(2) Faoi réir fho-alt (1), i rún de réir alt 12 chun cuideachta a athchlárú mar chuideachta phoiblí theoranta, féadfar ainm na cuideachta a athrú tríd an méid seo a leanas a scriosadh—
(a) an focal “company” nó na focail “and company”; nó
(b) an focal “cuideachta” nó na focail “agus cuideachta”,
lena n-áirítear aon ghiorrú orthu agus ní bheidh aon táille iníoctha i leith aon athrú ar ainm a luaitear san fho-alt seo.
(3) Is san fhoirm atá leagtha amach i gCuid I den Dara Sceideal a bheidh meabhrán cuideachta poiblí teoranta atá faoi theorainn scaireanna nó, más cuideachta faoi theorainn ráthaíochta í a bhfuil scairchaipiteal aici, is san fhoirm atá leagtha amach i gCuid II den Sceideal sin a bheidh sé, nó, i gceachtar cás, chomh gar don fhoirm sin agus is féidir sna himthosca; agus, i gcás cuideachta poiblí teoranta, is iad na foirmeacha sin a úsáidfear in ionad na bhfoirmeacha meabhráin atá leagtha amach faoi seach i dTáblaí B agus D sa Chéad Sceideal a ghabhann leis an bPríomh-Acht.
Clárú cuideachtaí.
5.—(1) I gcás ina seachadfar aon mheabhrán lena chlárú faoi alt 17 den Phríomh-Acht, ní chláróidh an cláraitheoir an meabhrán mura deimhin leis gur comhlíonadh ceanglais uile Achtanna na gCuideachtaí maidir le clárú agus le nithe roimh an gclárú agus ag baint leis.
(2) I gcás ina ndéarfar i meabhrán a sheachadfar amhlaidh gur cuideachta phoiblí theoranta a bheidh sa chomhlachas atá le clárú, ní foláir méid nach lú ná an t-íosmhéid údaraithe a bheith i méid an scairchaipitil a ndéarfar sa mheabhrán gurb é an méid é lena bhfuil beartaithe ag an gcuideachta clárú.
(3) I gcás ina gcláróidh cláraitheoir meabhrán de chuid comhlachais a deir gur cuideachta phoiblí theoranta a bheidh sa chomhlachas, beidh ráiteas gur cuideachta phoiblí theoranta an chuideachta sa deimhniú corpraithe a thabharfar i leith an chomhlachais sin faoi alt 18 den Phríomh-Acht.
(4) Beidh deimhniú corpraithe a thabharfar faoin alt sin i leith aon chomhlachas ina fhianaise dhochloíte—
(a) gur comhlíonadh na ceanglais a luaitear i bhfo-alt (1) agus gur cuideachta a údaraítear lena clárú agus atá cláraithe go cuí faoin bPríomh-Acht an comhlachas; agus
(b) i gcás ráiteas a bheith sa deimhniú gur cuideachta phoiblí theoranta an chuideachta, gur cuideachta den sórt sin an chuideachta.
(5) Seachadfar ar an gcláraitheoir dearbhú reachtúil san fhoirm fhorordaithe ó aturnae i mbun foirmiú cuideachta, nó ó dhuine atá ainmnithe mar stiúrthóir nó mar rúnaí ar an gcuideachta sa ráiteas a sheachadfar faoi alt 3 d'Acht na gCuideachtaí (Leasú), 1982, ar dearbhú reachtúil é a deir gur comhlíonadh na ceanglais a luaitear i bhfo-alt (1), agus féadfaidh an cláraitheoir glacadh leis an dearbhú sin mar leorfhianaise gur comhlíonadh iad.
Srian le cuideachta phoiblí theoranta gnó a thosú.
6.—(1) Ní dhéanfaidh cuideachta a cláraíodh mar chuideachta phoiblí theoranta ar í a chorprú i gcéaduair gnó ná ní fheidhmeoidh sí aon chumhachtaí iasachtaíochta mura mbeidh deimhniú faoin alt seo eisithe chuici ag cláraitheoir na gcuideachtaí nó mura mbeidh an chuideachta athchláraithe mar fhoirm eile cuideachta.
(2) Eiseoidh an cláraitheoir deimhniú faoin alt seo chuig cuideachta phoiblí theoranta más rud é, ar iarratas chuige san fhoirm fhorordaithe ón gcuideachta, gur deimhin leis nach lú luach ainmniúil scairchaipiteal leithroinnte na cuideachta ná an t-íosmhéid údaraithe, agus go ndéanfar dearbhú reachtúil a chomhlíonann fo-alt (3) a sheachadadh air.
(3) Is san fhoirm fhorordaithe a bheidh an dearbhú reachtúil agus beidh sé sínithe ag stiúrthóir nó rúnaí sa chuideachta agus luafar ann—
(a) nach lú luach ainmniúil scairchaipiteal leithroinnte na cuideachta ná an t-íosmhéid údaraithe;
(b) an méid a íocadh tráth an iarratais ar scairchaipiteal leithroinnte na cuideachta;
(c) méid, nó méid measta, réamhchaiteachas na cuideachta agus na daoine a mbeidh aon chaiteachas de na caiteachais sin íoctha nó le híoc acu; agus
(d) aon mhéid nó sochar a íocadh nó a tugadh, nó a bheartaítear a íoc nó a thabhairt, d'aon tionscnóir de chuid na cuideachta agus an chomaoin in aghaidh na híocaíochta nó an tsochair.
(4) Chun críocha fho-alt (2), ní ceadaithe scair a bheidh leithroinnte de bhun scair-scéim fostaithe a chur i gcuntas nuair a bheidh luach ainmniúil scairchaipiteal leithroinnte na cuideachta á chinneadh mura mbeidh an ceathrú cuid ar a laghad de luach ainmniúil na scaire, agus iomlán aon phréimhe ar an scair, íoctha.
(5) Féadfaidh cláraitheoir glacadh le dearbhú reachtúil a sheachadfar air faoi fho-alt (2) mar fhianaise leordhóthanach ar na nithe a bheidh luaite ann.
(6) Aon deimhniú faoin alt seo i leith aon chuideachta phoiblí theoranta is fianaise dhochloíte é go bhfuil an chuideachta i dteideal gnó a dhéanamh agus aon chumhachtaí iasachtaíochta a fheidhmiú.
(7) Má dhéanann cuideachta phoiblí theoranta gnó nó má fheidhmíonn sí cumhachtaí iasachtaíochta de shárú ar an alt seo, beidh an chuideachta agus aon oifigeach don chuideachta a rinne mainneachtain ciontach i gcion agus dlífear ar iad a chiontú go hachomair, pionós nach mó ná £500 a chur orthu.
(8) Ní dochar forálacha an ailt seo do bhailíocht aon idirbhirt a dhéanfaidh cuideachta phoiblí theoranta; ach má dhéanann cuideachta phoiblí theoranta idirbheart de shárú ar na forálacha sin agus go mainneoidh sí a hoibleagáidí ina leith a chomhlíonadh laistigh de 21 lá ón tráth a n-iarrfar uirthi sin a dhéanamh, dlífidh stiúrthóirí na cuideachta, i gcomhpháirt agus go leithleach, an páirtí eile san idirbheart a shlánú i leith aon chaillteanas nó damáiste a bhainfidh dó de dheasca mhainneachtain na cuideachta na hoibleagáidí sin a chomhlíonadh.
Toirmeasc ar fhoirmiú cuideachta poiblí atá faoi theorainn ráthaíochta agus a bhfuil scairchaipiteal aici.
7.—Ar an lá ceaptha nó dá éis, ní dhéanfar aon chuideachta a fhoirmiú mar chuideachta phoiblí faoi theorainn ráthaíochta agus scairchaipiteal aici, ná ní dhéanfar cuideachta phoiblí den sórt sin di.
Cumhacht ag an gcláraitheoir cuideachta phoiblí theoranta a bhaint den chlár.
8.—(1) Más rud é, maidir le cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, nach mbeidh deimhniú faoi alt 6 eisithe chuici laistigh de bhliain ón dáta a cláraíodh í, féadfaidh an cláraitheoir litir a chur leis an bpost cláraithe chuig an gcuideachta á rá go bhfoilseofar fógra san Iris Oifigiúil d'fhonn ainm na cuideachta poiblí teoranta sin a bhaint den chlár mura mbeidh deimhniú den sórt sin eisithe chuig an gcuideachta laistigh de mhí ó dháta na litreach sin.
(2) Mura mbeidh deimhniú dá dtagraítear in alt 6 eisithe laistigh de mhí ó dháta na litreach dá dtagraítear i bhfo-alt (1), féadfaidh an cláraitheoir an fógra sin a fhoilsiú agus dul ar aghaidh le hainm na cuideachta poiblí teoranta a bhaint den chlár de réir alt 311 (5) den Phríomh-Acht.
(3) Beidh feidhm ag alt 311 (6), (7) agus (8) den Phríomh-Acht maidir le cuideachta phoiblí theoranta a mbeidh a hainm bainte den chlár de réir fho-alt (2) amhail mar atá feidhm ag na fo-ailt sin chun críocha an ailt sin 311.
Cuideachta phríobháideach a athchlárú mar chuideachta phoiblí theoranta.
9.—(1) Faoi réir alt 11, féadfar cuideachta phríobháideach a athchlárú mar chuideachta phoiblí theoranta—
(a) má ritear rún speisialta, a chomhlíonann fo-alt (2), go ndéanfaí í a athchlárú amhlaidh; agus
(b) má sheachadtar iarratas chuige sin, san fhoirm fhorordaithe agus é sínithe ag stiúrthóir nó rúnaí sa chuideachta, ar an gcláraitheoir mar aon leis na doiciméid a luaitear i bhfo-alt (3); agus
(c) má bhíonn na coinníollacha a shonraítear i bhfo-alt (5) (a) agus (b) (más infheidhme) agus alt 10 (1) (a) go (d) comhlíonta i ndáil leis an gcuideachta.
(2) Ní foláir don rún speisialta—
(a) meabhrán na cuideachta a athrú ionas go luafar ann gur cuideachta phoiblí theoranta a bheidh sa chuideachta,
(b) cibé athruithe eile is gá a dhéanamh sa mheabhrán chun é a chur, ó thaobh substainte agus foirme, i gcomhréir le ceanglais an Achta seo maidir le meabhrán cuideachta poiblí teoranta; agus
(c) cibé athruithe a dhéanamh in airteagail na cuideachta a bheidh ag teastáil sna himthosca.
(3) Is iad na doiciméid dá dtagraítear i bhfo-alt (1)—
(a) cóip chlóite den mheabhrán agus de na hairteagail mar a athraíodh iad de bhun an rúin;
(b) cóip de ráiteas scríofa ó iniúchóirí na cuideachta á rá gurb é a dtuairim go dtaispeánann an clár comhardaithe iomchuí nár lú, ar dháta an chláir chomhardaithe, méid ghlansócmhainní na cuideachta ná comhiomlán a scairchaipitil ghlaoite agus a cúlchistí neamhindáilte;
(c) cóip den chlár comhardaithe iomchuí, mar aon le cóip de thuarascáil gan agús ó iniúchóirí na cuideachta i ndáil leis an gclár comhardaithe sin;
(d) cóip d'aon tuarascáil a ullmhaíodh faoi fho-alt (5) (b); agus
(e) dearbhú reachtúil san fhoirm fhorordaithe ó stiúrthóir nó rúnaí sa chuideachta á rá—
(i) gur ritheadh an rún speisialta a luaitear i bhfo-alt (1) (a) agus gur comhlíonadh na coinníollacha a shonraítear i bhfo-alt (1) (c); agus
(ii) nár tharla, idir dáta an chláir chomhardaithe agus an t-iarratas ón gcuideachta ar athchlárú, aon athrú ar staid airgeadais na cuideachta a d'fhág gur lú méid ghlansócmhainní na cuideachta ná comhiomlán a scairchaipitil ghlaoite agus a cúlchistí neamhindáilte.
(4) Féadfaidh an cláraitheoir glacadh le dearbhú reachtúil faoi fho-alt (3) (e) mar fhianaise leordhóthanach gur ritheadh an rún speisialta agus gur comhlíonadh na coinníollacha sin.
(5) I gcás ina ndéanfaidh an chuideachta, idir dáta an chláir chomhardaithe agus dáta rite an rúin speisialta, scaireanna a leithroinnt mar scaireanna láníoctha nó páirt-íoctha ó thaobh a luacha ainmniúil nó aon phréimhe orthu, ar shlí seachas in airgead, ní dhéanfaidh an chuideachta iarratas ar athchlárú faoin alt seo mura rud é, roimh an iarratas a dhéanamh—
(a) go ndearnadh an chomaoin i leith na leithroinnte sin a luacháil de réir fhorálacha alt 30 arna chur chun feidhme leis an bhfo-alt seo agus le halt 31; agus
(b) gur tugadh tuarascáil maidir lena luach don chuideachta de réir na bhforálacha sin sna sé mhí díreach roimh an leithroinnt ar na scaireanna;
agus beidh feidhm ag fo-ailt (2) go (8) agus (12) go (14) d'alt 30 chun críocha an fho-ailt seo amhail mar atá feidhm acu chun críocha an ailt sin agus ionann is dá mba thagairtí don fho-alt seo na tagairtí d'fho-alt (1) d'alt 30.
(6) Más deimhin leis an gcláraitheoir, ar iarratas chuige faoi fho-alt (1), go bhféadfar cuideachta a athchlárú faoin alt seo mar chuideachta phoiblí theoranta—
(a) coinneoidh sé an t-iarratas agus na doiciméid eile a seachadadh air faoin bhfo-alt sin; agus
(a) eiseoidh sé deimhniú corpraithe chuig an gcuideachta á rá gur cuideachta phoiblí theoranta an chuideachta.
(7) Ní eiseoidh an cláraitheoir deimhniú corpraithe faoi fho-alt (6) má fheictear dó go ndearna an chúirt ordú ag daingniú laghdú ar chaipiteal na cuideachta arb é is éifeacht dó luach ainmniúil scairchaipiteal leithroinnte na cuideachta a thabhairt faoi bhun an íosmhéid údaraithe.
(8) Ar dheimhniú corpraithe a eisiúint chuig cuideachta faoi fho-alt (6)—
(a) déanfar, de bhua eisiúint an deimhnithe sin, cuideachta phoiblí theoranta den chuideachta; agus
(b) beidh éifeacht dá réir sin le haon athruithe sa mheabhrán agus sna hairteagail a bheidh leagtha amach sa rún.
(9) Beidh deimhniú corpraithe a eiseofar chuig cuideachta faoi fho-alt (6) ina fhianaise dhochloíte—
(a) gur comhlíonadh ceanglais an Achta seo maidir le hathchlárú agus le nithe roimh an athchlárú agus ag baint leis; agus
(b) gur cuideachta phoiblí theoranta an chuideachta.
(10) Ní dhéanfaidh athchlárú ar chuideachta phríobháideach mar chuideachta phoiblí theoranta de bhun an Achta seo difear d'aon chearta ná oibleagáidí de chuid na cuideachta, ná ní fhágfaidh sé go mbeidh aon imeachtaí dlí ag an gcuideachta nó ina coinne lochtach, agus aon imeachtaí dlí a bhféadfaí leanúint díobh nó iad a thionscnamh ina coinne faoina seanstádas, féadfar leanúint díobh nó iad a thionscnamh ina coinne faoina stádas nua.
(11) Chun críocha an mhínithe ar thuarascáil gan agús i bhfo-alt (13), áireofar agús mar agús nach mbaineann le hábhar i ndáil le haon chlár comhardaithe má deir, agus ar an gcoinníoll amháin go ndeir, an duine atá ag tabhairt na tuarascála, i scríbhinn, nach bhfuil an ní is cúis leis an agús ag baint le hábhar chun a chinneadh, faoi theoir an chláir chomhardaithe sin, arbh amhlaidh, ar dháta an chláir chomhardaithe, nár lú méid ghlansócmhainní na cuideachta ná comhiomlán a scairchaipitil ghlaoite agus a cúlchistí neamhindáilte.
(12) Chun na gcríocha a bhaineann le tuarascáil a thabhairt i ndáil le clár comhardaithe cuideachta, ar tuarascáil í faoi réim an mhínithe ar thuarascáil gan agús i bhfo-alt (13), measfar éifeacht a bheith le halt 149 den Phríomh-Acht agus leis an Séú Sceideal a ghabhann leis an Acht sin i ndáil leis an gclár comhardaithe sin fara cibé modhnuithe is gá de bhíthin gur i leith tréimhse seachas i leith bliana airgeadais a ullmhaítear an clár comhardaithe sin.
(13) San alt seo—
tá le “cúlchistí neamhindáilte” an bhrí chéanna atá leis in alt 46 (2);
ciallaíonn “clár comhardaithe iomchuí”, i ndáil le cuideachta, clár comhardaithe arna ullmhú amhail mar a bhí ar dháta nach faide siar ná seacht mí roimh dháta iarratais na cuideachta ar athchlárú faoin alt seo; agus
ciallaíonn “tuarascáil gan agús”, i ndáil le clár comhardaithe cuideachta, tuarascáil á rá, gan aon agús ábhartha—
(a) go gcomhlíonann an clár comhardaithe, dar leis an duine atá ag tabhairt na tuarascála, ceanglais ailt 149 agus 156 den Phríomh-Acht; agus
(b) gan dochar do mhír (a), go dtugann an clár comhardaithe, ach amháin sa chás ina bhfuil an chuideachta i dteideal tairbhe a bhaint, agus go bhfuil tairbhe bainte aici, as aon fhoráil d'fhorálacha Chuid III den Séú Sceideal a ghabhann leis an bPríomh-Acht, léargas fíorcheart, dar leis an duine sin, ar staid chúrsaí na cuideachta amhail mar a bhí ar dháta an chláir chomhardaithe.
Ceanglais maidir le scairchaipiteal cuideachta príobháidí a dhéanfaidh iarratas ar athchlárú mar chuideachta phoiblí theoranta.
10.—(1) Faoi réir fho-alt (2), ní dhéanfar cuideachta phríobháideach a athchlárú faoi alt 9 mar chuideachta phoiblí theoranta, mura rud é, tráth rite an rúin speisialta dá dtagraítear san alt sin—
(a) nach lú ná an t-íosmhéid údaraithe luach ainmniúil scairchaipiteal leithroinnte na cuideachta;
(b) go mbeidh an ceathrú cuid ar a laghad de luach ainmniúil gach scaire dá scaireanna leithroinnte, agus iomlán aon phréimhe ar gach scair díobh sin, íoctha;
(c) i gcás aon scair sa chuideachta nó aon phréimh is iníoctha uirthi a bheith íoctha go hiomlán nó go páirteach trí ghealltanas a thug duine ar bith go ndéanfadh seisean nó duine eile obair nó seirbhísí don chuideachta nó do dhuine eile, go mbeidh an gealltanas curtha i gcrích nó urscaoilte ar shlí eile; agus
(d) i gcás scaireanna a bheith leithroinnte mar scaireanna láníoctha nó páirt-íoctha ó thaobh a luach ainmniúil nó aon phréimhe is iníoctha orthu ar shlí seachas in airgead agus ina gcuimsíonn nó ina bhfolaíonn an chomaoin i leith na leithroinnte gealltanas (seachas gealltanas lena mbaineann mír (c)) don chuideachta—
(i) go bhfuil an gealltanas sin curtha i gcrích nó urscaoilte ar shlí eile; nó
(ii) go bhfuil conradh ann idir an chuideachta agus aon duine faoina gcaithfear an gealltanas sin a chur i gcrích laistigh de chúig bliana ón tráth sin.
(2) Faoi réir fho-alt (3) aon scair a leithroinn an chuideachta—
(a) ar scair í a leithroinneadh roimh dheireadh na tréimhse eatramhaí ginearálta; nó
(b) ar scair í a leithroinneadh de bhun scair-scéim fostaithe agus a dtarlódh dá dhroim sin, murach an fo-alt seo, go mbeadh sé toirmiscthe faoi fho-alt (1) (b), ach ní ar dhóigh ar bith eile, an chuideachta a athchlárú mar chuideachta phoiblí theoranta,
féadfar neamhshuim a dhéanamh di chun a chinneadh an bhfuil fo-alt (1) (b) go (d) comhlíonta i ndáil leis an gcuideachta, agus, chun críocha fho-alt (1) (a), áireofar scair a ndéanfar neamhshuim di amhlaidh ionann is dá mba nár chuid de scairchaipiteal leithroinnte na cuideachta í.
(3) Ní dhéanfar neamhshuim de scair de bhua fho-alt (2) (a) más mó comhiomlán luach ainmniúil na scaire sin agus na scaireanna eile a mbeartaítear neamhshuim a dhéanamh díobh amhlaidh ná aon deichiú de luach ainmniúil scairchaipiteal leithroinnte na cuideachta (gan aon scair a ndearnadh neamhshuim di de bhua fho-alt (2) (b) a áireamh).
Cuideachta neamhtheoranta a athchlárú mar chuideachta phoiblí theoranta.
11.—(1) Féadfar cuideachta neamhtheoranta a athchlárú mar chuideachta phoiblí theoranta agus, chun críocha an athchláraithe sin, beidh éifeacht le hailt 9 agus 53 (6) agus (7) faoi réir na modhnuithe atá san alt seo.
(2) An rún speisialta a cheanglaítear le halt 9 (1), ní foláir dó, i dteannta na nithe a luaitear in alt 9 (2)—
(a) a rá go bhfuil dliteanas na gcomhaltaí le bheith faoi theorainn scaireanna agus cad é an méid atá le bheith i scairchaipiteal na cuideachta; agus
(b) cibé athruithe a dhéanamh ar mheabhrán na cuideachta is gá chun é a chur, ó thaobh substainte agus foirme, i gcomhréir le ceanglais Achtanna na gCuideachtaí maidir le meabhrán cuideachta faoi theorainn scaireanna.
(3) Déarfar sa deimhniú corpraithe a eiseofar faoi alt 9 (6), i dteannta an ráiteas a bheith ann a cheanglaítear le mír (b) den fho-alt sin, gur corpraíodh an chuideachta mar chuideachta faoi theorainn scaireanna, agus—
(a) déanfar, de bhua eisiúint an deimhnithe sin, cuideachta phoiblí theoranta, faoi theorainn amhlaidh, den chuideachta; agus
(b) is fianaise dhochloíte an deimhniú ar an bhfíoras gur cuideachta phoiblí theoranta den sórt sin í.
(4) Beidh éifeacht le halt 53 (6) agus (7) ionann is dá bhfolódh tagairt d'athchlárú cuideachta de bhun an ailt sin tagairt d'athchlárú cuideachta neamhtheoranta mar chuideachta phoiblí theoranta de réir fho-alt (1), ach ní bheidh, seachas mar atá ráite, feidhm ag an alt sin 53 i ndáil le hathchlárú cuideachta neamhtheoranta mar chuideachta phoiblí theoranta.
Seanchuideachtaí poiblí teoranta.
12.—(1) San Acht seo ciallaíonn “seanchuideachta phoiblí theoranta” cuideachta phoiblí faoi theorainn scaireanna nó cuideachta phoiblí faoi theorainn ráthaíochta a bhfuil scairchaipiteal aici agus a gcomhlíontar na coinníollacha seo a leanas ina leith, is é sin le rá—
(a) go raibh an chuideachta ar marthain ar an lá ceaptha nó gur corpraíodh í tar éis an lae sin de bhun iarratais a rinneadh roimh an lá sin; agus
(b) nach ndearnadh ón lá ceaptha ná ó lá corpraithe na cuideachta, de réir mar a bheidh, an chuideachta a athchlárú mar chuideachta phoiblí theoranta nó nach ndearnadh foirm eile cuideachta di.
(2) Na tagairtí sa Phríomh-Acht do chuideachta seachas cuideachta phríobháideach agus, tar éis deireadh na tréimhse eatramhaí ginear álta, na tagairtí san Acht seo seachas an Chuid seo do chuideachta phoiblí theoranta, folóidh siad, mura n-éilíonn an comhthéacs a mhalairt, tagairtí do sheanchuideachta phoiblí theoranta.
(3) Féadfar (roimh dheireadh na tréimhse eatramhaí ginearálta nó dá éis) seanchuideachta phoiblí theoranta a athchlárú mar chuideachta phoiblí theoranta—
(a) má ritheann na stiúrthóirí rún, a chomhlíonann fo-alt (4), go ndéanfaí í a athchlárú amhlaidh; agus
(b) má sheachadtar iarratas chuige sin san fhoirm fhorordaithe, agus é sínithe ag stiúrthóir nó ag rúnaí sa chuideachta, ar an gcláraitheoir, mar aon leis na doiciméid a luaitear i bhfo-alt (5); agus
(c) má bhíonn, tráth an rúin, na coinníollacha a shonraítear i bhfo-alt (9) comhlíonta.
(4) Ní foláir don rún dá dtagraítear i bhfo-alt (3) meabhrán na cuideachta a athrú ionas go luafar ann gur cuideachta phoiblí theoranta a bheidh sa chuideachta agus ní foláir dó cibé athruithe eile a dhéanamh air is gá chun é a chur, ó thaobh substainte agus foirme, i gcomhréir le ceanglais an Achta seo maidir le meabhrán cuideachta phoiblí theoranta.
(5) Is iad seo a leanas na doiciméid dá dtagraítear i bhfo-alt (3)—
(a) cóip chlóite den mheabhrán mar a athraíodh é de bhun an rúin; agus
(b) dearbhú reachtúil san fhoirm fhorordaithe ó stiúrthóir nó rúnaí sa chuideachta á rá gur ritheadh an rún a luaitear i bhfo-alt (3) (a) agus gur comhlíonadh, tráth an rúin, na coinníollacha a shonraítear i bhfo-alt (9).
(6) Féadfaidh an cláraitheoir glacadh le dearbhú reachtúil faoi fho-alt (5) (b) mar fhianaise leordhóthanach gur ritheadh an rún sin agus gur comhlíonadh amhlaidh na coinníollacha sin.
(7) Ar athchlárú a iarraidh faoin alt seo, beidh feidhm ag fo-ailt (6) go (9) d'alt 9 amhail mar atá feidhm acu ar athchlárú a iarraidh faoin alt sin agus amhail is dá mba thagairt d'fho-alt (3) den alt seo an tagairt d'fho-alt (1) den alt sin.
(8) Má iarrann seanchuideachta phoiblí theoranta athchlárú mar chuideachta phoiblí theoranta de réir fho-alt (3) agus má sheachadann sí ar an gcláraitheoir, tráth déanta an iarratais sin, dearbhú reachtúil san fhoirm fhorordaithe ó stiúrthóir nó rúnaí sa chuideachta á rá nach gcomhlíonann an chuideachta, tráth an dearbhaithe, na coinníollacha a shonraítear i bhfo-alt (9), athchláróidh an cláraitheoir an chuideachta mar chuideachta phoiblí theoranta ach cuirfidh sé in iúl di mura mbeidh, laistigh den tréimhse eatramhach do scairchaipiteal, na coinníollacha réamhráite comhlíonta aici, nach foláir di athchlárú mar fhoirm eile cuideachta nó foirceannadh go toilteanach faoi alt 251 den Phríomh-Acht. Má mhainnítear athchlárú nó foirceannadh a dhéanamh amhlaidh is foras é sin chun an chuideachta a chur á foirceannadh ag an gcúirt faoi alt 213 (i) den Phríomh-Acht.
(9) Is iad na coinníollacha dá dtagraítear i bhfo-ailt 3 (c) and (8) ná nach lú, tráth an rúin, luach ainmniúil scairchaipiteal leithroinnte na cuideachta ná an t-íosmhéid údaraithe agus, i gcás scaireanna uile na cuideachta nó iad sin uile dá scaireanna a chuimsítear i riar den chaipiteal sin a chomhlíonann an coinníoll sin—
(a) go mbeidh an ceathrú cuid ar a laghad de luach ainmniúil gach scaire, agus iomlán aon phréimhe ar an scair, íoctha;
(b) i gcás aon scair de na scaireanna i gceist nó aon phréimh is iníoctha orthu a bheith láníoctha nó páirt-íoctha trí ghealltanas a thug duine ar bith go ndéanfadh seisean nó duine eile obair nó seirbhísí don chuideachta nó do dhuine eile, go mbeidh an gealltanas curtha i gcrích nó urscaoilte ar shlí eile; agus
(c) i gcás aon scair de na scaireanna i gceist a bheith leithroinnte mar scaireanna láníoctha nó páirt-íoctha ó thaobh a luacha ainmniúil nó aon phréimhe is iníoctha orthu ar shlí seachas in airgead agus ina gcuimsíonn nó ina bhfolaíonn an chomaoin i leith na leithroinnte gealltanas (seachas gealltanas lena mbaineann mír (b)) don chuideachta—
(i) go bhfuil an gealltanas sin curtha i gcrích nó urscaoilte ar shlí eile; nó
(ii) go bhfuil conradh ann idir an chuideachta agus aon duine faoina gcaithfear an gealltanas sin a chur i gcrích laistigh de chúig bliana ó thráth an rúin.
(10) Ní dhéanfaidh athchlárú ar sheanchuideachta phoiblí theoranta mar chuideachta phoiblí theoranta de bhun an Achta seo difear d'aon chearta ná oibleagáidí de chuid na cuideachta, ná ní fhágfaidh sé go mbeidh aon imeachtaí dlí ag an gcuideachta nó ina coinne lochtach, agus aon imeachtaí dlí a bhféadfaí leanúint díobh nó iad a thionscnamh ina coinne faoina seanstádas, féadfar leanúint díobh nó iad a thionscnamh ina coinne faoina stádas nua.
Seanchuideachta phoiblí theoranta do mhainniú athchlárú mar chuideachta phoiblí theoranta.
13.—(1) Más rud é, aon tráth tar éis deireadh na tréimhse cúig mhí dhéag ón lá ceaptha (dá ngairtear “an tréimhse athchlárúcháin” san Acht seo), nach ndéanfaidh cuideachta is seanchuideachta phoiblí theoranta athchlárú mar chuideachta phoiblí theoranta faoi alt 12, beidh an chuideachta agus aon oifigeach don chuideachta a rinne mainneachtain ciontach i gcion mura ndearna an chuideachta an tráth sin—
(a) athchlárú a iarraidh faoi alt 12 agus nár diúltaíodh don iarratas ná nár tarraingíodh siar é, nó
(b) athchlárú a iarraidh mar fhoirm eile chuideachta.
(2) Aon duine a bheidh ciontach i gcion faoi fho-alt (1) dlífear, ar é a chiontú go hachomair, fíneáil nach mó ná £250 a chur air, mar aon le fíneáil, i gcás ciona leanúnaigh, nach mó ná £25 in aghaidh gach lae a leanfar den chion ach gan dul thar £500 san iomlán.
Cuideachta phoiblí theoranta a athchlárú mar chuideachta phríobháideach.
14.—(1) Féadfar cuideachta phoiblí theoranta a athchlárú mar chuideachta phríobháideach—
(a) má ritear rún speisialta a chomhlíonann fo-alt (2) go ndéanfaí í a athchlárú amhlaidh agus nach mbeidh sé curtha ar ceal ag an gcúirt faoi alt 15 (6);
(b) má sheachadtar iarratas chuige sin san fhoirm fhorordaithe, agus é sínithe ag stiúrthóir nó rúnaí sa chuideachta, ar an gcláraitheoir mar aon le cóip chlóite de mheabhrán agus d'airteagail na cuideachta mar a athraíodh iad leis an rún; agus
(c) má bhíonn an tréimhse caite ina bhféadfar iarratas a dhéanamh chun an rún a chealú faoi alt 15 (2) gan aon iarratas den sórt sin a bheith déanta; nó
(d) má bhíonn, i gcás iarratas den sórt sin a bheith déanta, an t-iarratas tarraingthe siar nó má bhíonn ordú déanta faoi alt 15 (6) ag daingniú an rúin agus cóip den ordú sin seachadta ar an gcláraitheoir.
(2) Ní foláir don rún—
(a) meabhrán na cuideachta a athrú ionas nach luafar ann a thuilleadh gur cuideachta phoiblí theoranta a bheidh sa chuideachta agus ní foláir dó cibé athruithe eile a dhéanamh i meabhrán na cuideachta a bheidh ag teastáil sna himthosca; agus
(b) cibé athruithe a dhéanamh in airteagail na cuideachta a bheidh ag teastáil sna himthosca, agus i gcaoi is go mbeidh ar áireamh iontu na forálacha a cheanglaítear, faoi alt 33 den Phríomh-Acht, a bheith in airteagail chuideachta d'fhonn cuideachta phríobháideach a dhéanamh di.
(3) Más deimhin leis an gcláraitheoir go bhféadfar cuideachta phoiblí theoranta a athchlárú faoi fho-alt (1)—
(a) coinneoidh sé an t-iarratas agus na doiciméid eile a seachadadh air faoin bhfo-alt sin; agus
(b) eiseoidh sé chuig an gcuideachta deimhniú corpraithe is iomchuí do chuideachta phríobháideach.
(4) Ar dheimhniú corpraithe a eisiúint faoi fho-alt (3)—
(a) déanfar, de bhua eisiúint an deimhnithe sin, cuideachta phríobháideach den chuideachta; agus
(b) beidh éifeacht dá réir sin leis na hathruithe sa mheabhrán agus sna hairteagail atá leagtha amach sa rún.
(5) Beidh deimhniú corpraithe a eiseofar chuig cuideachta faoi fho-alt (3) ina fhianaise dhochloíte—
(a) gur comhlíonadh ceanglais an ailt seo maidir le hathchlárú agus le nithe roimh an athchlárú agus ag baint leis; agus
(b) gur cuideachta phríobháideach an chuideachta.
(6) Ní dhéanfaidh athchlárú ar chuideachta phoiblí theoranta mar chuideachta phríobháideach de bhun an Achta seo difear d'aon chearta ná oibleagáidí de chuid na cuideachta, ná ní fhágfaidh sé go mbeidh aon imeachtaí dlí ag an gcuideachta nó ina coinne lochtach, agus aon imeachtaí dlí a bhféadfaí leanúint díobh nó iad a thionscnamh ina coinne faoina seanstádas, féadfar leanúint díobh nó iad a thionscnamh ina coinne faoina stádas nua.
Forálacha d'fhorlíonadh alt 14.
15.—(1) Baineann an t-alt seo le rún speisialta ó chuideachta phoiblí theoranta go ndéanfaí í a athchlárú faoi alt 14 mar chuideachta phríobháideach.
(2) I gcás rún speisialta lena mbaineann an t-alt seo a bheith rite, féadfar iarratas a dhéanamh chun na cúirte leis an rún sin a chealú.
(3) Féadfaidh na daoine seo a leanas iarratas a dhéanamh faoi fho-alt (2)—
(a) sealbhóirí ag a bhfuil cuid nach lú san iomlán ná cúig faoin gcéad ó thaobh luacha ainmniúil de scairchaipiteal eisithe na cuideachta nó d'aon aicme den scairchaipiteal sin;
(b) mura bhfuil an chuideachta faoi theorainn scaireanna, cúig faoin gcéad ar a laghad de chomhaltaí na cuideachta; nó
(c) 50 comhalta ar a laghad de chomhaltaí na cuideachta;
ach ní dhéanfaidh aon duine a thoiligh leis an rún nó a vótáil ina fhabhar aon iarratas den sórt sin.
(4) Ní foláir aon iarratas den sórt sin a dhéanamh laistigh de 28 lá tar éis dáta rite an rúin agus féadfar é a dhéanamh thar ceann na ndaoine atá i dteideal an t-iarratas a dhéanamh ag cibé duine nó daoine dá líon a cheapfaidh siad chuige sin i scríbhinn.
(5) Má dhéantar iarratas faoi fho-alt (2)—
(a) tabharfaidh an chuideachta fógra láithreach don chláraitheoir á chur sin in iúl; agus
(b) ar an iarratas sin a éisteacht, má dhéantar ordú faoi fho-alt (6) ag cealú nó ag daingniú an rúin, seachadfaidh an chuideachta cóip oifige den ordú ar an gcláraitheoir laistigh de 15 lá ó dháta an ordaithe nó laistigh de cibé tréimhse is faide ná sin a ordóidh an chúirt tráth ar bith le hordú.
(6) Ar iarratas faoi fho-alt (2) a éisteacht, déanfaidh an chúirt ordú ag cealú nó ag daingniú an rúin, agus—
(a) féadfaidh sí an t-ordú sin a dhéanamh ar cibé téarmaí agus coinníollacha is cuí léi, agus féadfaidh sí, más cuí léi, na himeachtaí a chur ar atráth ionas go bhféadfar socrú a dhéanamh chun sástacht na cúirte le leasanna comhaltaí easaontacha a cheannach; agus
(b) féadfaidh sí cibé treoracha a thabhairt agus cibé orduithe a dhéanamh is fóirsteanach léi chun aon socrú den sórt sin a éascú nó a chur i gcrích.
(7) Féadfaidh ordú faoin alt seo, más cuí leis an gcúirt é, socrú a dhéanamh maidir leis an gcuideachta do cheannach scaireanna aon chomhaltaí sa chuideachta agus chun laghdú a dhéanamh dá réir sin ar chaipiteal na cuideachta agus féadfaidh an t-ordú sin cibé athruithe a dhéanamh ar mheabhrán agus airteagail na cuideachta a cheanglófar de dhroim na forála sin.
(8) Má cheanglaíonn ordú faoin alt seo ar an gcuideachta gan aon athrú, nó gan aon athrú sonraithe, a dhéanamh ar a meabhrán nó a hairteagail, ansin, d'ainneoin aon ní in Achtanna na gCuideachtaí, ní bheidh de chumhacht ag an gcuideachta, gan cead ón gcúirt, aon athrú den sórt sin a dhéanamh de shárú ar an gceanglas sin.
(9) Aon athrú ar mheabhrán nó airteagail na cuideachta a dhéanfar de bhua ordaithe faoin alt seo, seachas athrú a dhéanfar le rún ón gcuideachta, beidh an éifeacht chéanna leis is a bheadh dá mba athrú é a dhéanfaí go cuí le rún ón gcuideachta, agus beidh feidhm dá réir sin ag forálacha Achtanna na gCuideachtaí maidir leis an meabhrán nó na hairteagail mar a athraíodh amhlaidh iad.
(10) Aon chuideachta a mhainneoidh fo-alt (5) a chomhlíonadh, agus aon oifigeach don chuideachta a rinne mainneachtain, beidh siad ciontach i gcion agus dlífear, ar iad a chiontú go hachomair, fíneáil nach mó nó £250 a chur orthu mar aon le fíneáil, i gcás ciona leanúnaigh, nach mó ná £25 in aghaidh gach lae a leanfar den chion ach gan dul thar £500 san iomlán.
Seanchuideachta phoiblí theoranta do mhainniú athchlárú mar fhoirm eile cuideachta.
16—(1) Más rud é sa tréimhse athchlárúcháin go mbeidh iarrtha ag seanchuideachta phoiblí theoranta go ndéanfaí í a athchlárú mar fhoirm cuideachta seachas mar chuideachta phoiblí theoranta agus go mbeidh curtha in iúl ag an gcláraitheoir don chuideachta gur mhainn igh sí ceanglais an athchlárúcháin sin a chomhlíonadh, beidh an chuideachta agus aon oifigeach don chuideachta a rinne mainneachtain ciontach i gcion, mura rud é, laistigh de thréimhse 12 mhí ó dheireadh na tréimhse athchlárúcháin—
(a) gur comhlíonadh na ceanglais sin agus go ndearnadh an t-athchlárúchán; nó
(b) gur athchláraíodh an chuideachta i bhfoirm seachas san fhoirm a iarradh; nó
(c) gur foirceannadh an chuideachta go toilteanach faoi alt 251 den Phríomh-Acht.
(2) Aon duine a bheidh ciontach i gcion faoi fho-alt (1) dlífear, ar é a chiontú go hachomair, fíneáil nach mó ná £250 a chur air mar aon le fíneáil, i gcás ciona leanúnaigh, nach mó ná £25 in aghaidh gach lae a leanfar den chion ach gan dul thar £500 san iomlán.
Teorainn leis an laghdú a fhéadfaidh cuideachta phoiblí theoranta a dhéanamh ar a scairchaipiteal leithroinnte.
17.—(1) Faoi réir fho-ailt (2) agus (3), ní fhéadfaidh cuideachta phoiblí theoranta a scairchaipiteal leithroinnte a laghdú faoi bhun an íosmhéid údaraithe agus forléireofar alt 72 (1) den Phríomh-Acht dá réir sin.
(2) Ní bheidh feidhm ag fo-alt (1) maidir le seanchuideachta phoiblí theoranta a athchláraíodh mar chuideachta phoiblí theoranta go dtí go mbeidh an tréimhse eatramhach do scairchaipiteal caite.
(3) Má dhéanann an chúirt ordú ag dearbhú laghdú ar chaipiteal cuideachta poiblí teoranta arb é is éifeacht dó luach ainmniúil scairchaipiteal leithroinnte na cuideachta a thabhairt faoi bhun an íosmhéid údaraithe, ní chláróidh an cláraitheoir an t-ordú faoi alt 75(1) den Phríomh-Acht mura n-ordóidh an chúirt a mhalairt nó mura ndéanfar an chuideachta a athchlárú ar dtús mar fhoirm eile cuideachta.
(4) Cúirt a mbeidh aon ordú den sórt á dhéanamh aici i leith cuideachta poiblí teoranta, féadfaidh sí a údarú an chuideachta a athchlárú mar fhoirm eile cuideachta gan rún speisialta a bheith rite aici agus, má dhéanann an chúirt an méid sin a údarú amhlaidh do chuideachta phoiblí theoranta, sonróidh an chúirt san ordú na hathruithe ar mheabhrán agus airteagail na cuideachta a bheidh le déanamh i ndáil leis an athchlárú sin.
(5) I bhfeidhmiú alt 14 i leith cuideachta poiblí teoranta a iarrfaidh go ndéanfaí í a athchlárú mar chuideachta phríobháideach de bhun údarás arna thabhairt faoi fho-alt (4), beidh éifeacht leis an alt sin fara na modhnuithe seo a leanas—
(a) na tagairtí do rún speisialta na cuideachta beidh éifeacht leo mar thagairtí d'ordú na cúirte faoin bhfo-alt sin (4);
(b) ní bheidh feidhm ag alt 14(1) (a), (c) agus (d) ná (2); agus
(c) léifear alt 14(3) amhail is dá ndéanfaí na focail “Más deimhin leis an gcláraitheoir go bhféadfar cuideachta phoiblí theoranta a athchlárú faoi fho-alt (1)” a scriosadh agus na focail seo a leanas a chur ina n-ionad— “Nuair a gheofar iarratas ar athchlárú faoin alt seo a rinneadh de bhun ordú na cúirte faoi alt 17, déanfaidh an cláraitheoir mar a leanas”.
Cuideachtaí comhstoic a chlárú.
18.—(1) Cuideachta chomhstoic (de réir bhrí alt 329 den Phríomh-Acht) a iarrfaidh go ndéanfaí í a chlárú de bhun Chuid IX den Acht sin mar chuideachta faoi theorainn scaireanna, féadfaidh sí, faoi réir chomhalladh na gcoinníollacha a shonraítear in alt 9(5) (a) agus (b) (más infheidhme) agus alt 10(1) (a) go (d) mar a fheidhmítear iad leis an alt seo, agus faoi réir chomhlíonadh cheanglais fho-alt (4), a iarraidh go ndéanfaí í a chlárú amhlaidh mar chuideachta phoiblí theoranta.
(2) Beidh feidhm ag na hailt sin 9(5) agus 10 maidir le cuideachta chomhstoic a iarrfaidh go ndéanfaí í a chlárú faoin gCuid sin IX amhail mar atá feidhm acu maidir le cuideachta phríobháideach a iarrfaidh go ndéanfaí í a athchlárú faoi alt 9, ach á ghlacadh go mba thagairt don rún dá dtagraítear i bhfo-alt (4) (a) aon tagairt don rún speisialta dá dtagraítear in alt 9.
(3) Sna forálacha seo a leanas den alt seo iarratas iomchuí a thugtar ar iarratas a dhéanfaidh cuideachta de bhun na Coda sin IX chun clárú mar chuideachta phoiblí faoi theorainn scaireanna.
(4) Is san fhoirm fhorordaithe a dhéanfar iarratas iomchuí agus seachadfar ar an gcláraitheoir é i dteannta na ndoiciméad seo a leanas (agus i dteannta na ndoiciméad dá dtagraítear in alt 330 den Phríomh-Acht), is é sin—
(a) cóip den rún á rá gur cuideachta phoiblí theoranta a bheidh sa chuideachta;
(b) cóip de ráiteas scríofa ó dhuine, a bheadh cáilithe faoi alt 162 den Phríomh-Acht lena cheapadh mar iniúchóir ar an gcuideachta dá mba chuideachta í a cláraíodh faoin Acht sin, á rá gurb é a thuairim go dtaispeánann clár comhardaithe iomchuí nár lú, ar dháta an chláir chomhardaithe, méid ghlansócmhainní na cuideachta ná comhiomlán scairchaipiteal glaoite na cuideachta agus a cúlchistí neamhindáilte;
(c) cóip den chlár comhardaithe iomchuí mar aon le cóip de thuarascáil gan agús ón duine sin i ndáil leis an gclár comhardaithe sin;
(d) cóip d'aon tuarascáil a ullmhaíodh faoi alt 9 (5) (b) mar a fheidhmítear é leis an alt seo; agus
(e) dearbhú reachtúil san fhoirm fhorordaithe ó stiúrthóir nó rúnaí sa chuideachta á rá—
(i) gur comhlíonadh na coinníollacha a shonraítear in alt 9 (5) (a) agus (b) (más infheidhme) agus alt 10 (1) (a) go (d); agus
(ii) nár tharla, idir dáta an chláir chomhardaithe dá dtagraítear i mír (b) agus dáta an iarratais iomchuí, aon athrú ar staid airgeadais na cuideachta a d'fhág gur lú méid ghlansócmhainní na cuideachta ná comhiomlán a scairchaipitil ghlaoite agus a cúlchistí neamhindáilte.
(5) Féadfaidh an cláraitheoir glacadh le dearbhú faoi fho-alt (4) (e) mar fhianaise leordhóthanach gur comhlíonadh na coinníollacha dá dtagraítear i bhfomhír (i) den mhír sin.
(6) Más rud é maidir le hiarratas iomchuí gur deimhin leis an gcláraitheoir go bhféadfar an chuideachta a chlárú mar chuideachta phoiblí faoi theorainn scaireanna, luafar sa deimhniú corpraithe a bheidh á thabhairt aige faoi alt 336 den Phríomh-Acht gur cuideachta phoiblí theoranta an chuideachta; agus is fianaise dhochloíte aon ráiteas den sórt sin gur comhlíonadh ceanglais an ailt seo agus gur cuideachta phoiblí atá faoi theorainn amhlaidh an chuideachta.
(7) Ní dhéanfaidh clárú cuideachta mar chuideachta phoiblí theoranta difear d'aon chearta ná oibleagáidí de chuid na cuideachta, ná ní fhágfaidh sé go mbeidh aon imeachtaí dlí ag an gcuideachta nó ina coinne lochtach, agus aon imeachtaí dlí a bhféadfaí leanúint díobh nó iad a thionscnamh ina coinne faoina seanstádas, féadfar leanúint díobh nó iad a thionscnamh ina coinne faoina stádas nua.
(8) San alt seo—
ciallaíonn “clár comhardaithe iomchuí”, i ndáil le cuideachta, clár comhardaithe arna ullmhú amhail mar a bhí ar dháta nach faide siar ná seacht mí roimh dháta an iarratais iomchuí;
tá le “cúlchistí neamhindáilte” an bhrí chéanna atá leis in alt 46(2); agus
tá le “tuarascáil gan agús” an bhrí chéanna atá leis in alt 9(13);
agus tá feidhm ag alt 9(11) maidir le tuarascáil gan agús a thabhairt de bhun an ailt seo ar tuarascáil í de chineál a luaitear san fho-alt sin, amhail mar atá feidhm aige maidir le tuarascáil den sórt sin a thabhairt de bhun an ailt sin 9.
CUID III
Caipiteal cuideachta
Scairchaipiteal údaraithe agus eisiúint scairchaipitil
Míniú ar “íosmhéid údaraithe”.
19.—(1) San Acht seo ciallaíonn “an t-íosmhéid údaraithe” £30,000 nó cibé suim is mó ná sin a shonróidh an tAire le hordú faoi fho-alt (2).
(2) Féadfaidh an tAire le hordú a shonrú gur méid seachas £30,000 an t-íosmhéid údaraithe chun críocha an Achta seo agus féadfaidh ordú den sórt sin—
(a) a cheangal ar aon chuideachta phoiblí theoranta ag a bhfuil scairchaipiteal leithroinnte, ar lú a luach ainmniúil ná an méid a bheidh sonraithe san ordú mar an íosmhéid údaraithe, an luach sin a mhéadú go dtí luach nach lú ná an méid sin nó iarratas a dhéanamh go ndéanfaí í a athchlárú mar fhoirm eile cuideachta;
(b) foráil a dhéanamh, i ndáil le haon cheanglas den sórt sin, faoi chomhair aon ní de na nithe dá ndéantar foráil le haon achtachán in Achtanna na gCuideachtaí a bhaineann le clárú, athchlárú nó athrú ainm cuideachta, leis an íocaí ocht ar aon scair a chuimsítear i gcaipiteal cuideachta agus le scaireanna i gcuideachta nó bintiúir de chuid cuideachta a thairiscint don phobal, lena n-áirítear foráil maidir leis na hiarmhairtí (cibé acu sa dlí coiriúil nó ar dhóigh eile dóibh) a leanann as mainneachtain aon cheanglas den ordú a chomhlíonadh; agus
(c) cibé foráil fhorlíontach agus eatramhach a bheith ann is cuí leis an Aire, foráil éagsúil a dhéanamh do chásanna éagsúla agus, go sonrach, socrú a dhéanamh chun go dtiocfaidh aon fhoráil den ordú i ngníomh ar laethanta éagsúla chun críocha éagsúla.
Údarás ón gcuideachta a bheith riachtanach chun go bhféadfaidh stiúrthóirí urrúis áirithe a leithroinnt.
20.—(1) Ní fheidhmeoidh stiúrthóirí cuideachta aon chumhacht de chuid na cuideachta chun urrúis iomchuí a leithroinnt mura mbeidh na stiúrthóirí údaraithe de réir an ailt seo—
(a) ag an gcuideachta i gcruinniú ginearálta; nó
(b) ag airteagail na cuideachta,
chun feidhmiú amhlaidh.
(2) Féadfar údarás chun críocha an ailt seo a thabhairt chun an chumhacht sin a fheidhmiú go sonrach nó chun an chumhacht sin a fheidhmiú go ginearálta, agus féadfaidh sé a bheith saor ó choinníollacha nó faoi réir choinníollacha.
(3) Luafar in aon údarás den sórt sin an méid uasta d'urrúis iomchuí a fhéadfar a leithroinnt faoin údarás agus an dáta a rachaidh an t-údarás in éag, ar dáta é nach faide amach ná cúig bliana ó cibé dáta díobh seo a leanas is iomchuí—
(a) i gcás údarás a bhí in airteagail na cuideachta ar dháta corpraithe na cuideachta i gcéaduair, dáta an chorpraithe sin; agus
(b) in aon chás eile, an dáta a ritheadh an rún ar dá bhua a thugtar an t-údarás sin;
ach féadfaidh an chuideachta, i gcruinniú ginearálta, aon údarás den sórt sin (lena n-áirítear údarás in airteagail na cuideachta) a chúlghairm nó a athrú roimhe sin.
(4) Féadfaidh an chuideachta, i gcruinniú ginearálta, aon údarás den sórt sin (bíodh sé athnuaite cheana faoin bhfo-alt seo nó ná bíodh) a athnuachan go ceann tréimhse breise nach faide ná cúig bliana; ach ní foláir don rún a lua (nó a athlua) cad é méid na n-urrús iomchuí a fhéadfar a leithroinnt faoin údarás nó, de réir mar a bheidh, cad é an méid a bheidh fágtha le leithroinnt faoi, agus ní foláir don rún an dáta a rachaidh an t-údarás athnuaite in éag a shonrú.
(5) Féadfaidh na stiúrthóirí urrúis iomchuí a leithroinnt, d'ainneoin aon údarás chun críocha an ailt seo a bheith dulta in éag, más de bhun tairiscint nó comhaontú a rinne an chuideachta roimh éag don údarás a leithroinntear na hurrúis iomchuí agus gur cheadaigh an t-údarás di tairiscint nó comhaontú a dhéanamh a cheanglódh, nó a b'fhéidir a cheanglódh, urrúis iomchuí a leithroinnt tar éis don údarás dul in éag.
(6) Féadfaidh aon rún ó chuideachta chun údarás den sórt sin a thabhairt, a athrú, a chúlghairm, nó a athnuachan a bheith, d'ainneoin go n-athraíonn sé airteagail na cuideachta, ina ghnáth-rún ach beidh feidhm ag alt 143 den Phríomh-Acht maidir leis.
(7) Aon stiúrthóir a dhéanfaidh go feasach agus go toiliúil an t-alt seo a shárú nó a cheadóidh nó a údaróidh é a shárú amhlaidh, beidh sé ciontach i gcion.
(8) Ní dhéanfaidh aon ní san alt seo difear do bhailíocht aon leithroinnte ar urrúis iomchuí.
(9) Níl feidhm ag an alt seo maidir le haon leithroinnt ar urrúis iomchuí ag cuideachta, seachas cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, más de bhun tairiscint nó comhaontú a rinneadh roimh an dáta a dtarlóidh an teagmhas is túisce de na teagmhais seo a leanas a dhéantar é, is é sin le rá, tionól chéad chruinniú ghinearálta na cuideachta tar éis a hathchláraithe nó a cláraithe mar chuideachta phoiblí theoranta agus deireadh na tréimhse eatramhaí ginearálta; ach aon rún chun údarás a thabhairt, a athrú nó a chúlghairm chun críocha an ailt seo beidh éifeacht leis chun na gcríoch sin má ritear é tráth ar bith tar éis an tAcht seo a rith.
(10) San alt seo ciallaíonn “urrúis iomchuí”, i ndáil le cuideachta—
(a) scaireanna sa chuideachta seachas scaireanna a dtaispeántar sa mheabhrán gur scaireanna iad a thóg sínitheoirí an mheabhráin sin nó scaireanna arna leithroinnt de bhun scair-scéim fostaithe; agus
(b) aon cheart chun suibscríobh le haghaidh scaireanna, nó chun aon urrús a chomhshó ina scaireanna, sa chuideachta seachas scaireanna arna leithroinnt amhlaidh;
agus aon tagairt do leithroinnt urrús iomchuí folóidh sí tagairt do dheonú cirt den sórt sin ach ní fholóidh sí aon tagairt do leithroinnt scaireanna de bhun cirt den sórt sin.
Ní dhéanfar scaireanna ná bintiúir de chuid cuideachta príobháidí a thairiscint don phobal.
21.—(1) Beidh cuideachta phríobháideach, agus aon oifigeach don chuideachta a rinne mainneachtain, ciontach i gcion má dhéanann an chuideachta—
(a) aon scaireanna sa chuideachta nó bintiúir de chuid na cuideachta a thairiscint don phobal (cibé acu ar airgead nó ar shlí eile); nó
(b) aon scaireanna sa chuideachta nó bintiúir de chuid na cuideachta a leithroinnt, nó comhaontú lena leithroinnt (cibé acu ar airgead nó ar shlí eile) d'fhonn gach ceann nó aon cheann de na scaireanna nó na bintiúir sin a thairiscint lena ndíol leis an bpobal.
(2) Beidh feidhm ag ailt 51(2) agus 61 den Phríomh-Acht chun críocha an ailt seo amhail mar atá feidhm acu chun críocha an Achta sin.
(3) Ní dhéanfaidh aon ní san alt seo difear do bhailíocht aon scaireanna ná bintiúir a leithroinnt nó a dhíol ná do bhailíocht aon chomhaontú chun scaireanna nó bintiúir a leithroinnt nó a dhíol.
(4) Duine a bheidh ciontach i gcion faoi fho-alt (1) dlífear, ar é a chiontú go hachomair, fíneáil nach mó ná £500 a chur air.
Doiciméad, agus tairiscint ann, á rá an ndéanfar scaireanna a leithroinnt i gcás nach mbeidh an eisiúint suibscríofa go hiomlán.
22.—(1) Gan dochar d'alt 53 den Phríomh-Acht ní dhéanfar leithroinnt ar bith ar aon scairchaipiteal de chuid cuideachta poiblí teoranta a thairgfear lena shuibscríobh—
(a) mura mbeidh an caipiteal sin suibscríofa go hiomlán; nó
(b) mura ndéarfar sa tairiscint go bhféadfar, fiú mura mbeidh an caipiteal suibscríofa go hiomlán, an méid den chaipiteal sin a bheidh suibscríofa a leithroinnt in aon chás áirithe nó sa chás go mbeidh na coinníollacha a bheidh sonraithe sa tairiscint comhlíonta;
agus, i gcás coinníollacha a bheith sonraithe amhlaidh, ní dhéanfar leithroinnt ar bith ar an gcaipiteal de bhua mhír (b) mura mbeidh na coinníollacha sin comhlíonta.
(2) Beidh feidhm ag alt 53(4) agus ag alt 55 den Phríomh-Acht i gcás é a bheith toirmiscthe scaireanna a leithroinnt le fo-alt (1) amhail mar atá feidhm acu i gcás nach gcomhlíontar na coinníollacha a luaitear i bhfo-alt (1) den alt sin 53; agus beidh feidhm ag fo-alt (5) den alt sin 53 maidir leis an alt seo amhail mar atá feidhm aige maidir leis an alt sin.
(3) Beidh feidhm ag forálacha an ailt seo i gcás scaireanna a thairgtear mar scaireanna is iníoctha go hiomlán nó go páirteach ar shlí seachas in airgead, amhail mar atá feidhm acu i gcás scaireanna a thairgtear lena suibscríobh agus—
(a) i bhfo-alt (1), forléireofar an focal “suibscríofa” dá réir sin; agus
(b) san alt sin 53(4),amhail mar atá feidhm aige de bhua fho-alt (2) maidir leis an gcéad chás, folóidh na tagairtí d'airgead a fuarthas ó iarratasóirí ar scaireanna a aisíoc tagairtí do chomaoin ar bith eile a fuarthas amhlaidh a thabhairt ar ais (lena n-áirítear, i gcás ina n-éilíonn an comhthéacs é, an t-iarratasóir a scaoileadh ó aon ghealltanas) nó, mura féidir le réasún an chomaoin a thabhairt ar ais, folóidh sé tagairtí d'airgead a íoc is ionann agus luach na comaoine ag an am a bhfuarthas é amhlaidh, agus beidh éifeacht dá réir sin le tagairtí d'ús.
Cearta réamhcheannaigh
Cearta réamhcheannaigh.
23.—(1) Faoi réir na bhforálacha seo a leanas den alt seo agus d'ailt 24 agus 25, aon chuideachta a bheartaíonn aon urrúis chothromais a leithroinnt—
(a) ní leithroinnfidh sí aon cheann de na hurrúis sin ar aon téarmaí chuig aon duine mura mbeidh tairiscint déanta aici chuig gach duine a shealbhaíonn scaireanna iomchuí nó scaireanna fostaí iomchuí chun comhréir de na hurrúis sin a leithroinnt chuige ar na téarmaí céanna nó ar théarmaí níos fabharaí, i gcás ar comhréir í atá, a mhéid is féidir, comhionann leis an gcomhréir, ó thaobh luacha ainmniúil, a shealbhaíonn sé de mhéid comhiomlán na scaireanna iomchuí agus de na scaireanna fostaí iomchuí; agus
(b) ní leithroinnfidh sí aon cheann de na hurrúis sin chuig aon duine mura mbeidh an tréimhse caite ina bhféadfar aon tairiscint den sórt sin a ghlacadh nó mura mbeidh fógra faighte ag an gcuideachta á chur in iúl cé acu ar glacadh nó ar diúltaíodh glacadh le gach tairiscint a rinneadh amhlaidh.
(2) Tá feidhm ag fo-alt (3) maidir le haon fhoráil de mheabhrán nó d'airteagail chuideachta a chuireann de cheangal ar an gcuideachta, le linn di bheith ag beartú urrúis chothromais a leithroinnt arb éard iad scaireanna iomchuí d'aon chineál áirithe, gan na hurrúis sin a leithroinnt ar aon téarmaí mura mbeidh an coinníoll comhlíonta aici i dtaobh tairiscint den chineál a thuairiscítear i bhfo-alt (1) a dhéanamh chuig gach duine a shealbhaíonn scaireanna iomchuí nó scaireanna fostaí iomchuí den chineál sin.
(3) Más rud é, de réir fhoráil lena mbaineann an fo-alt seo—
(a) go ndéanfaidh cuideachta tairiscint aon urrúis a leithroinnt ar shealbhóir den sórt sin; agus
(b) go ndéanfaidh an sealbhóir sin nó aon duine a mbeidh seisean tar éis a cheart chun leithroinnte na n-urrús sin a thréigean ina fhabhar, an tairiscint a ghlacadh,
ní bheidh feidhm ag fo-alt (1) maidir le leithroinnt na n-urrús sin agus féadfaidh an chuideachta iad a leithroinnt dá réir sin; ach ní dochar d'fheidhmiú fho-alt (1) in aon chás eile an fo-alt seo.
(4) Ní bheidh feidhm ag fo-alt (1) i ndáil le leithroinnt áirithe ar urrúis chothromais i gcás go bhfuil na hurrúis íoctha, nó go bhfuil siad le híoc, go hiomlán nó go páirteach ar shlí seachas in airgead.
(5) Urrúis a thairg cuideachta a leithroinnt ar shealbhóir scaireanna iomchuí nó scaireanna fostaí iomchuí féadfar iad a leithroinnt air nó ar aon duine a mbeidh sé tar éis a cheart chun na leithroinnte a thréigean ina fhabhar gan sárú a dhéanamh ar fho-alt (1) (b).
(6) Ní bheidh feidhm ag fo-alt (1) i ndáil leis an leithroinnt ar aon urrúis a ndéanfaí, ar leith ó thréigean nó sannadh an chirt chun a leithroinnte, iad a shealbhú faoi scair-scéim fostaithe.
(7) Aon tairiscint a gceanglaítear, le fo-alt (1) nó le haon fhoráil lena mbaineann fo-alt (3), í a dhéanamh chuig aon duine déanfar í trína seirbheáil air ar an modh a n-údaraítear fógraí a thabhairt le rialacháin 133, 134 agus 135 de Thábla A; ach i gcás gur sealbhóir barántas scaire é féadfar, ina ionad sin, an tairiscint a dhéanamh trína chur faoi deara an tairiscint, nó fógra á rá cá bhféadfar cóip den tairiscint a fháil nó a iniúchadh, a fhoilsiú san Iris Oifigiúil.
(8) In aon tairiscint den sórt a luaitear i bhfo-alt (7) ní foláir tréimhse nach lú ná 21 lá a lua mar thréimhse ina bhféadfar glacadh leis an tairiscint sin; agus ní tharraingeofar siar an tairiscint roimh dheireadh na tréimhse sin.
(9) Ní chuirfidh fo-ailt (7) agus (8) aon fhoráil lena mbaineann fo-alt (3) ó bhail de bhíthin go gceanglaíonn nó go n-údaraíonn an fhoráil sin tairiscint fúithi a dhéanamh de shárú ar cheann amháin de na fo-ailt sin nó orthu araon, ach, sa mhéid go gceanglaíonn nó go n-údaraíonn an fhoráil tairiscint den sórt sin a dhéanamh amhlaidh, beidh sí gan éifeacht.
(10) Féadfar fo-alt (1), (7) nó (8), ina fheidhmiú i ndáil le leithroinntí ag cuideachta phríobháideach ar urrúis chothromais nó i ndáil le leithroinntí de thuairisc áirithe, a eisiamh le foráil i meabhrán nó in airteagail na cuideachta sin; agus ceanglas nó údarás atá i meabhrán nó in airteagail chuideachta príobháidí, beidh, má tá sé ar neamhréir le haon fho-alt de na fo-ailt sin, éifeacht leis mar fhoráil a eisiann an fo-alt sin, ach ní áireofar foráil lena mbaineann fo-alt (3) mar fhoráil atá ar neamhréir le fo-alt (1).
(11) Má sháraítear fo-ailt (1), (7) nó (8) nó foráil lena mbaineann fo-alt (3) beidh an chuideachta, agus gach oifigeach don chuideachta a d'údaraigh nó a cheadaigh an sárú sin go feasach, faoi dhliteanas, i gcomhpháirt agus go leithleach, cúiteamh a dhéanamh le haon duine chuig ar chóir tairiscint a dhéanamh faoin bhfo-alt nó faoin bhforáil a sáraíodh, as aon chaillteanas, damáiste, costais nó caiteachais a bhain don duine sin nó a thabhaigh sé de dheasca an tsáraithe; ach ní thionscnófar aon imeachtaí chun aon chaillteanas, damáiste, costais ná caiteachais den sórt sin a ghnóthú tar éis dhá bhliain a bheith caite ón dáta a seachadadh ar chláraitheoir na gcuideachtaí an tuairisceán ar na leithroinntí i gceist nó, i gcás ina ndéantar urrúis chothromais seachas scaireanna a dheonú, ó dháta an deonaithe.
(12) I ndáil le haon tairiscint chun aon urrúis a leithroinnt a cheanglaítear a dhéanamh le fo-alt (1) nó le haon fhoráil lena mbaineann fo-alt (3), déanfar tagairtí san alt seo (cibé dóigh a sainítear iad) do shealbhóir scaireanna de thuairisc ar bith a léamh mar thagairtí a fholaíonn tagairtí d'aon duine a shealbhaigh scaireanna den tuairisc sin lá ar bith sa tréimhse ocht lá is fiche dar críoch an lá díreach roimh dháta na tairisceana.
(13) San alt seo agus in ailt 24 agus 25—
ciallaíonn “urrús cothromais”, i ndáil le cuideachta, scair iomchuí sa chuideachta (seachas scair a dtaispeántar sa mheabhrán gur scair í a thóg sínitheoir leis an meabhrán sin nó scair bhónais) nó ceart chun suibscríobh le haghaidh scaireanna iomchuí sa chuideachta, nó chun aon urrúis a chomhshó ina scaireanna iomchuí sa chuideachta, agus folóidh tagairtí do leithroinnt ar urrúis chothromais nó ar urrúis chothromais arb éard iad scaireanna iomchuí de chineál áirithe tagairtí do dheonú cirt chun suibscríobh le haghaidh scaireanna iomchuí sa chuideachta, nó de réir a bheidh, le haghaidh scaireanna iomchuí de chineál áirithe, nó chun aon urrúis a chomhshó ina scaireanna iomchuí sa chuideachta, nó de réir mar a bheidh, ina scaireanna iomchuí de chineál áirithe, ach ní fholóidh siad tagairtí do leithroinnt ar aon scaireanna iomchuí de bhun an chirt sin;
ciallaíonn “scaireanna fostaí iomchuí”, i ndáil le cuideachta, scaireanna de chuid na cuideachta ar scaireanna iomchuí sa chuideachta a bheadh iontu murach iad a bheith á sealbhú ag duine a fuair iad de bhun scair-scéim fostaithe; agus
ciallaíonn “scaireanna iomchuí” i ndáil le cuideachta, scaireanna sa chuideachta seachas—
(a) scaireanna lena ngabhann, maidir le díbhinní agus caipiteal, ceart gan a bheith rannpháirteach ach amháin go feadh méid sonraithe i ndáileadh; agus
(b) scaireanna atá á sealbhú ag duine a fuair iad de bhun scairscéim fostaithe, nó, i gcás scaireanna nach mbeidh leithroinnte, scaireanna atá le leithroinnt de bhun scéime den sórt sin;
agus forléireofar aon tagairt do chineál scaireanna mar thagairt do scaireanna lena ngabhann na cearta céanna i ndáil le vótáil agus i ndáil le rannpháirtíocht, maidir le díbhinní agus maidir le caipiteal, i ndáileadh.
Forálacha breise i ndáil le cearta réamhcheannaigh.
24.—(1) Má bhíonn stiúrthóirí cuideachta údaraithe go ginearálta chun críocha alt 20, féadfar cumhacht a thabhairt dóibh le hairteagail na cuideachta nó le rún speisialta ón gcuideachta chun leithroinnt a dhéanamh ar urrúis chothromais de bhun an údaráis sin amhail is dá mba rud é—
(a) nach raibh feidhm ag alt 23 (1) maidir leis an leithroinnt; nó
(b) go raibh feidhm ag an bhfo-alt sin maidir leis an leithroinnt, fara cibé modhnuithe ar a gcinnfidh na stiúrthóirí;
agus má dhéanann na stiúrthóirí leithroinnt faoin bhfo-alt seo, beidh éifeacht dá réir sin leis an alt sin 23.
(2) Má bhíonn stiúrthóirí cuideachta údaraithe chun críocha alt 20 (cibé acu go ginearálta nó ar shlí eile), féadfaidh an chuideachta a bheartú le rún speisialta—
(a) nach mbeidh feidhm ag alt 23 (1) maidir le leithroinnt shonraithe ar urrúis chothromais a bheidh le déanamh de bhun an údaráis sin; nó
(b) go mbeidh feidhm ag an bhfo-alt sin maidir leis an leithroinnt fara cibé modhnuithe a bheidh sonraithe sa rún;
agus má ritear an rún sin beidh éifeacht dá réir sin leis an alt sin 23.
(3) Scoirfidh cumhacht a thugtar de bhua fho-alt (1) nó rún speisialta faoi fho-alt (2) d'éifeacht a bheith leo an tráth a gcúlghairfear an t-údarás lena mbaineann siad nó an tráth a rachadh an t-údarás in éag, dá mbeadh sé gan athnuachan, ach má athnuaitear an t-údarás sin, féadfar, le rún speisialta ón gcuideachta, an chumhacht nó, de réir mar a bheidh, an rún a athnuachan freisin go ceann tréimhse nach faide ná an tréimhse dá n-athnuaitear an t-údarás.
(4) D'ainneoin aon chumhacht nó rún den sórt sin a bheith dulta in éag, féadfaidh na stiúrthóirí urrúis chothromais a leithroinnt de bhun tairiscint nó comhaontú a bheidh déanta roimhe sin ag an gcuideachta, má chuir an chumhacht nó an rún ar chumas na cuideachta tairiscint nó comhaontú a dhéanamh a cheanglódh, nó a b'fhéidir a cheanglódh, urrúis chothromais a leithroinnt tar éis don chumhacht nó don rún sin dul in éag.
(5) Ní thairgfear rún speisialta faoi fho-alt (2), ná rún speisialta chun rún den sórt sin a athnuachan, mura mbeidh sé molta ag na stiúrthóirí agus mura mbeidh ráiteas i scríbhinn curtha amach ag na stiúrthóirí, mar aon leis an bhfógra faoin gcruinniú ag a bhfuil an rún le tairgeadh, chuig na comhaltaí atá i dteideal an fógra sin a fháil, á leagan síos—
(a) cad iad na cúiseanna atá acu leis an moladh a dhéanamh;
(b) cad é an méid atá le híoc leis an gcuideachta i leith na n-urrús cothromais atá le leithroinnt; agus
(c) cad é an bonn cirt atá ag na stiúrthóirí leis an méid sin.
(6) Aon duine a thabharfaidh go feasach nó go meargánta údarás nó cead chun aon ábhar atá míthreorach, bréagach nó meabhlach i bponc ábhartha a chur isteach i ráiteas atá le cur amach faoi fho-alt (5), beidh sé ciontach i gcion.
Forálacha eatramhacha i ndáil le cearta réamhcheannaigh.
25.—(1) Ní bheidh feidhm ag ailt 23 agus 24—
(a) maidir le haon leithroinnt ar urrúis chothromais ag cuideachta, seachas cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, roimh an dáta a dtarlóidh an teagmhas is túisce de na teagmhais seo a leanas, is é sin le rá, tionól chéad chruinniú ginearálta na cuideachta tar éis a hathchláraithe nó a cláraithe mar chuideachta phoiblí theoranta agus deireadh na tréimhse eatramhaí ginearálta; nó
(b) i gcás feidhm a bheith ag fo-alt (2), maidir le leithroinnt ar urrúis chothromais atá faoi réir an cheanglais a luaitear san fho-alt sin.
(2) Tá feidhm ag an bhfo-alt seo i gcás ina mbeidh, nó, murach forálacha an Achta seo, ina mbeadh, aon chuideachta atá athchláraithe nó cláraithe mar chuideachta phoiblí theoranta faoi réir, tráth an athchláraithe nó, de réir mar a bheidh, an chláraithe, ag ceanglas a forchuireadh (cibé acu le meabhrán nó le hairteagail na cuideachta nó ar shlí eile) roimh an tráth iomchuí agus nach foláir don chuideachta, de bhua an cheanglais sin agus le linn di bheith ag leithroinnt urrús cothromais, tairiscint a dhéanamh chun na hurrúis sin, nó cuid acu, a leithroinnt ar mhodh atá (seachas de bhua gabháil a bheith aige le sárú ar alt 23 (7) nó (8)) ar neamhréir le halt 23.
(3) Aon cheanglas—
(a) a fhorchuirtear ar chuideachta phríobháideach roimh an tráth iomchuí ar shlí seachas le meabhrán nó le hairteagail na cuideachta;
agus
(b) i gcás é bheith i meabhrán nó in airteagail na cuideachta, a mbeadh éifeacht leis de bhua alt 23 (10) d'eisiamh aon fhoráil den alt sin,
beidh éifeacht leis, a fhad a fhanfaidh an chuideachta ina cuideachta phríobháideach, amhail is dá mbeadh sé i meabhrán nó in airteagail na cuideachta.
(4) Más rud é, ag an tráth iomchuí, go mbeidh cuideachta, seachas cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, faoi réir ag ceanglas den sórt a luaitear in alt 23 (2) agus a forchuireadh ar mhodh seachas le meabhrán nó le hairteagail na cuideachta, áireofar an ceanglas chun críocha an ailt sin amhail is dá mbeadh sé i meabhrán nó in airteagail na cuideachta.
(5) San alt seo ciallaíonn “an tráth iomchuí”—
(a) ach amháin i gcás atá faoi réim mhír (b) deireadh na tréimhse eatramhaí ginearálta;
agus
(b) i gcás cuideachta a athchláraíodh nó a cláraíodh mar chuideachta phoiblí theoranta de bhun iarratais arna dhéanamh roimh dheireadh na tréimhse sin, tráth déanta an iarratais.
Íocaíocht ar scairchaipiteal
Scairchaipiteal a shuibscríobh.
26.—(1) Faoi réir na bhforálacha seo a leanas den Chuid seo, féadfar scaireanna a leithroinnfidh cuideachta agus aon phréimh is iníoctha orthu a íoc in airgead nó i luach airgid (lena n-áirítear cáilmheas agus saineolas).
(2) Ní ghlacfaidh cuideachta phoiblí theoranta, tráth ar bith, mar íocaíocht ar a scaireanna nó ar aon phréimh orthu, le gealltanas a thabharfaidh duine ar bith go ndéanfadh seisean nó duine eile obair nó seirbhísí don chuideachta nó do dhuine ar bith eile.
(3) Má ghlacann cuideachta phoiblí theoranta le gealltanas den sórt sin mar íocaíocht ar a cuid scaireanna nó ar aon phréimh is iníoctha orthu, beidh sealbhóir na scaireanna, an tráth a áirítear na scaireanna sin nó an phréimh orthu a bheith íoctha, go hiomlán nó go páirteach, leis an ngealltanas—
(a) faoi dhliteanas méid a íoc leis an gcuideachta i leith na scaireanna sin is ionann agus a luach ainmniúil, mar aon le hiomlán aon phréimhe, nó, má cheanglaítear sin sa chás, cibé comhréir den mhéid sin a áirítear a bheith íoctha leis an ngealltanas; agus
(b) faoi dhliteanas ús a íoc de réir an ráta iomchuí ar an méid is iníoctha faoi mhír (a).
(4) Má thagann duine chun bheith ina shealbhóir ar aon scaireanna ar tharla maidir leo—
(a) go ndearnadh sárú ar an alt seo; agus
(b) de bhua an tsáraithe sin, go bhfuil duine eile faoi dhliteanas aon mhéid faoin alt seo a íoc,
beidh an duine sin freisin faoi dhliteanas an méid sin a íoc (i gcomhpháirt agus go leithleach mar aon le haon duine eile atá faoi dhliteanas amhlaidh) mura rud é gur ceannaitheoir ar luach-chomaoin é agus nach raibh, tráth an cheannaithe, fógra iarbhír faoin sárú faighte aige nó go raibh teideal chun na scaireanna faighte aige (go díreach nó go neamhdhíreach) ó dhuine dá ndearnadh sealbhóir orthu tar éis an tsáraithe agus nach raibh faoi dhliteanas amhlaidh.
(5) Ní choiscfidh fo-alt (1) ar chuideachta scaireanna bónais sa chuideachta a leithroinnt ar a comhaltaí ná aon mhéideanna a bheidh de thuras na huaire gan íoc ar aon cheann dá scaireanna (cibé acu ar chuntas luach ainmniúil na scaireanna nó i modh préimhe) a íoc as suimeanna a bheidh ar fáil chun na críche.
(6) Folaíonn tagairtí san alt seo do shealbhóir, i ndáil le haon scaireanna i gcuideachta, tagairtí d'aon duine ag a bhfuil ceart neamhchoinníollach a bheith ar áireamh i gclár chomhaltaí na cuideachta i leith na scaireanna sin nó ag a bhfuil ceart neamhchoinníollach go ndéanfaí ionstraim aistrithe ar na scaireanna a fhorghníomhú ina fhabhar.
Toirmeasc ar scaireanna a leithroinnt faoi lascaine.
27.—(1) Faoi réir fho-alt (4), ní dhéanfar scaireanna i gcuideachta a leithroinnt faoi lascaine.
(2) Má leithroinntear scaireanna de shárú ar fho-alt (1), dlífidh an leithroinní méid a íoc leis an gcuideachta is ionann agus méid na lascaine agus dlífidh sé ús a íoc air sin de réir an ráta iomchuí.
(3) Beidh feidhm ag alt 26 (4) chun críocha an ailt seo amhail mar atá feidhm aige chun críocha an ailt sin.
(4) An aisghairm ar alt 63 den Phríomh-Acht a dhéantar le halt 3(2) ní difear é d'iarratas ar ordú ag ceadú scaireanna a eisiúint faoi lascaine a bheidh déanta chun na cúirte faoin alt sin agus nach mbeidh tarraingthe siar ná curtha de láimh roimh an lá ceaptha, ná ní difear é d'ordú a dhéanfar an lá sin nó aon lá dá éis de bhun aon iarratais den sórt sin, agus—
(a) féadfar dul ar aghaidh le haon iarratas den sórt sin agus féadfar aon ordú den sórt sin, mura mbeidh sé déanta roimh an lá ceaptha, a dhéanamh amhail is dá mba nár aisghaireadh an t-alt sin; agus
(b) féadfar, dá réir sin, scaireanna a leithroinnt faoi lascaine de réir aon ordú den sórt sin (cibé acu a dhéanfar an t-ordú sin roimh an lá ceaptha, ar an lá ceaptha nó aon lá dá éis).
Íocaíocht ar scaireanna leithroinnte.
28.—(1) Faoi réir fho-alt (4), ní leithroinnfidh cuideachta phoiblí theoranta scair seachas scair a mbeidh an ceathrú cuid ar a laghad de luach ainmniúil na scaire agus iomlán aon phréimhe uirthi íoctha.
(2) Má leithroinneann cuideachta phoiblí theoranta scair de shárú ar fho-alt (1), áireofar an scair amhail is dá mbeadh an ceathrú cuid dá luach ainmniúil, mar aon le hiomlán aon phréimhe, faighte, ach dlífidh an leithroinní go n-íocfaidh sé leis an gcuideachta an méid íosta a ba chóir a bheith faighte i leith na scaire faoin bhfo-alt sin lúide luach aon chomaoine as ar baineadh feidhm iarbhír ag íoc (go feadh méid ar bith) na scaire agus aon phréimhe uirthi, mar aon le hús de réir an ráta iomchuí ar an méid is iníoctha faoin bhfo-alt seo.
(3) Ní bheidh feidhm ag fo-alt (2) i ndáil le scair bhónais a leithroinnt de shárú ar fho-alt (1) mura rud é gurbh eol, nó gur chóir gurbh eol, don leithroinní go ndearnadh an scair a leithroinnt amhlaidh.
(4) Ní bheidh feidhm ag fo-ailt (1) go (3) maidir le scaireanna a leithroinnfear de bhun scair-scéim fostaithe.
(5) Beidh feidhm ag alt 26(4) chun críocha an ailt seo amhail mar atá feidhm aige chun críocha an ailt sin.
Comaoin nach comaoin airgid a íoc.
29.—(1) Ní leithroinnfidh cuideachta phoiblí theoranta scaireanna mar scaireanna láníoctha nó páirt-íoctha (ó thaobh a luacha ainmniúil nó aon phréimhe is iníoctha orthu) ar shlí seachas in airgead más rud é gurb é atá sa chomaoin i leith na leithroinnte, nó go n-áirítear inti, gealltanas atá le comhlíonadh nó a fhéadfar a chomhlíonadh tráth is faide amach ná cúig bliana tar éis dáta na leithroinnte.
(2) Má leithroinneann cuideachta phoiblí theoranta scaireanna de shárú ar fho-alt (1), dlífidh leithroinní na scaireanna méid a íoc leis an gcuideachta is ionann agus a luach ainmniúil mar aon le hiomlán aon phréimhe, nó, má cheanglaítear sin sa chás, cibé comhréir den mhéid sin a áirítear a bheith íoctha leis an ngealltanas agus dlífidh sé ús a íoc de réir an ráta iomchuí ar an méid is iníoctha faoin bhfo-alt seo.
(3) Mura sárú ar fho-alt (1) conradh chun scaireanna a leithroinnt, is neamhní d'aon athrú ar an gconradh arb é is éifeacht dó go sáródh an conradh an fo-alt sin dá mba iad téarmaí an chonartha, amhail mar a athraíodh iad, a théarmaí bunaidh.
(4) Beidh feidhm ag fo-alt (3) maidir le haon athrú a dhéanfaidh cuideachta phoiblí theoranta ar na téarmaí i gconradh faoina ndeachthas sular cláraíodh nó sular athchláraíodh an chuideachta mar chuideachta phoiblí theoranta.
(5) Má leithroinneann cuideachta phoiblí theoranta scaireanna ar chomaoin arb é atá inti, nó ar a n-áirítear (de réir fho-alt (1)), gealltanas atá le comhlíonadh laistigh de chúig bliana ón leithroinnt ach nach gcomhlíontar an gealltanas sin laistigh den tréimhse atá lamháilte sa chonradh chun na scaireanna a leithroinnt, dlífidh leithroinní na scaireanna i gceist méid a íoc leis an gcuideachta ag deireadh na tréimhse sin, is ionann agus luach ainmniúil na scaireanna, mar aon le hiomlán aon phréimhe, nó, má cheanglaítear sin sa chás, cibé comhréir den mhéid sin a áirítear a bheith íoctha leis an ngealltanas, mar aon le hús de réir an ráta iomchuí ar an méid is iníoctha faoin bhfo-alt seo.
(6) Beidh feidhm ag alt 26(4) i ndáil le sárú ar an alt seo agus i ndáil le mainneachtain téarma conartha a chomhlíonadh mar a luaitear i bhfo-alt (5) amhail mar atá feidhm aige i ndáil le sárú ar an alt sin.
(7) Folaíonn aon tagairt san alt seo do chonradh chun scaireanna a leithroinnt tagairt do chonradh foghabhálach a bhaineann le híocaíocht i leith na scaireanna sin.
Tuarascálacha saineolaithe ar chomaoin nach comaoin airgid roimh leithroinnt scaireanna.
30.—(1) Faoi réir fho-alt (2), ní leithroinnfidh cuideachta phoiblí theoranta scaireanna mar scaireanna láníoctha nó páirt-íoctha (ó thaobh a luacha ainmniúil nó aon phréimhe is iníoctha orthu) ar shlí seachas in airgead mura rud é—
(a) go mbeidh luacháil déanta de réir na bhforálacha seo a leanas den alt seo ar an gcomaoin i leith na leithroinnte;
(b) go mbeidh, sna sé mhí díreach roimh an leithroinnt ar na scaireanna, tuarascáil maidir lena luach tugtha don chuid eachta ag duine a bheidh ceaptha ag an gcuideachta de réir na bhforálacha sin; agus
(c) go mbeidh cóip den tuarascáil curtha chuig leithroinní beartaithe na scaireanna.
(2) Faoi réir fho-alt (3), ní bheidh feidhm ag fo-alt (1) maidir le leithroinnt a dhéanfaidh cuideachta ar scaireanna i ndáil le—
(a) comhshocraíocht chun scaireanna sa chuideachta sin a leithroinnt ar théarmaí a fhágfaidh go mbeidh an chomaoin go léir, nó cuid den chomaoin, i leith na scaireanna a leithroinneadh le cur ar fáil trí aistriú chun na cuideachta sin, nó trí chealú a dhéanamh, ar na scaireanna go léir nó ar chuid de na scaireanna, nó ar na scaireanna go léir nó ar chuid de na scaireanna de chineál áirithe, i gcuideachta eile (i dteannta nó d'éagmais scaireanna, nó scaireanna d'aon chineál áirithe, sa chuideachta eile sin a eisiúint chuig an gcuideachta sin); nó
(b) cumasc beartaithe idir an chuideachta sin agus cuideachta eile.
(3) Ní eisiann fo-alt (2) (a) feidhmiú fho-alt (1) maidir leis an leithroinnt ar scaireanna ag cuideachta i ndáil le haon chomhshocraíocht den sórt a luaitear san fho-alt sin mura ceadaithe do na sealbhóirí go léir ar na scaireanna sa chuideachta eile i gceist nó, i gcás nach mbeidh feidhm ag an gcomhshocraíocht ach amháin i gcás scaireanna de chineál áirithe, do na sealbhóirí go léir ar scaireanna sa chuideachta eile sin den chineál sin, bheith páirteach sa chomhshocraíocht. Nuair a bheifear á chinneadh an mar sin atá, ní thabharfar aird ar scaireanna a shealbhaíonn an chuideachta, nó a shealbhaíonn ainmnitheach don chuideachta, a bhfuil beartaithe aici na scaireanna a leithroinnt i ndáil leis an gcomhshocraíocht, ná ar scaireanna a shealbhaíonn cuideachta, nó ainmnitheach do chuideachta arb í cuideachta shealbhaíochta nó fochuideachta don chuideachta sin í nó cuideachta ar fochuideachta dá cuideachta shealbhaíochta í.
(4) Chun críocha fho-alt (2) (b), tá cumasc beartaithe idir dhá chuideachta nuair a bheartaíonn cuideachta amháin díobh na sócmhainní agus na dliteanais go léir sa chuideachta eile a fháil mar mhalairt ar scaireanna nó urrúis eile sa cheann sin a eisiúint chuig scairshealbhóirí sa cheann eile, i dteannta nó d'éagmais íocaíochta airgid leis na scairshealbhóirí sin.
(5) An luacháil agus an tuarascáil a cheanglaítear le fo-alt (1) is duine neamhspleách a dhéanfaidh iad, is é sin le rá, duine atá cáilithe tráth na tuarascála lena cheapadh, nó le bheith fós, ina iniúchóir ar an gcuideachta, ach amháin i gcás inar dealraitheach dó gur réasúnach go ndéanfadh duine eile luacháil ar an gcomaoin, nó luacháil ar chuid den chomaoin, nó go nglacfadh sé le luacháil a rinne an duine eile sin—
(a) a ndealraítear dó an t-eolas agus an taithí is gá a bheith aige chun an chomaoin nó an chuid sin den chomaoin a luacháil; agus
(b) nach oifigeach ná seirbhíseach don chuideachta é ná d'aon chomhlacht corpraithe eile is fochuideachta nó cuideachta shealbhaíochta don chuideachta sin nó fochuideachta do chuideachta shealbhaíochta na cuideachta sin ná nach comhpháirtí ná fostaí de chuid oifigigh nó seirbhísigh den sórt sin é,
go bhféadfaidh an duine neamhspleách sin socrú a dhéanamh faoi chomhair na luachála sin, nó glacadh leis an luacháil sin, mar aon le tuarascáil a chuirfidh ar a chumas a thuarascáil féin a thabhairt faoin bhfo-alt sin agus nóta a sholáthar de réir fho-alt (8).
(6) Sa tuarascáil ón duine neamhspleách faoi fho-alt (1) luafar—
(a) luach ainmniúil na scaireanna a bhfuiltear le híoc go hiomlán nó go páirteach astu leis an gcomaoin i gceist;
(b) méid aon phréimhe is iníoctha ar na scaireanna sin;
(c) tuairisc ar an gcomaoin agus, maidir leis an gcuid sin den chomaoin ar a ndearna sé luacháil é féin, tuairisc ar an gcuid sin den chomaoin, an modh a d'úsáid sé lena luacháil agus dáta na luachála; agus
(d) a mhéid a n-áireofar luach ainmniúil na scaireanna agus aon phréimhe a bheith íoctha—
(i) leis an gcomaoin;
(ii) in airgead.
(7) Más duine seachas an duine neamhspleách a dhéanfaidh luacháil ar aon chomaoin faoin alt seo, luafar an méid sin sa tuarascáil faoi fho-alt (1) ón duine neamhspleách sin agus, sa tuarascáil sin freisin—
(a) luafar ainm an chéad duine sin agus cad é an t-eolas agus an taithí atá aige chun an luacháil a dhéanamh; agus
(b) tabharfar tuairisc ar an gcuid sin den chomaoin ar a ndearna an duine eile sin luacháil, an modh a d'úsáid sé lena luacháil agus luafar dáta na luachála.
(8) Sa tuarascáil, nó ag gabháil leis an tuarascáil, ón duine neamhspleách a thabharfar faoi fho-alt (1), beidh nóta uaidh—
(a) á rá, i gcás luacháil a rinne duine eile, gur dhealraigh sé don duine neamhspleách é bheith réasúnach a shocrú go ndéanfaí an luacháil amhlaidh, nó go nglacfaí le luacháil a rinneadh amhlaidh;
(b) á rá, cibé duine a rinne an luacháil, go raibh an modh luachála réasúnach sna cúinsí go léir;
(c) á rá go ndealraíonn sé don duine neamhspleách nach bhfuil aon athrú ábhartha ar luach na comaoine i gceist ó dháta na luachála; agus
(d) á rá, ar bhonn na luachála, nach lú luach na comaoine, mar aon le haon airgead lena mbeidh luach ainmniúil na scaireanna nó aon phréimh is iníoctha orthu le híoc, ná cibé cuid de chomhiomlán an luacha ainmniúil agus iomlán aon phréimhe den sórt sin a áirítear a bheith íoctha leis an gcomaoin agus le haon airgead den sórt sin.
(9) Tá feidhm ag fo-alt (10) i gcás ina ndéanann cuideachta phoiblí theoranta aon scair a leithroinnt de shárú ar fho-alt (1) agus—
(a) nach mbeidh tuarascáil faoin alt seo faighte ag an leithroinní; nó
(b) go mbeidh sárú éigin eile déanta ar an alt seo agus gurbh eol don leithroinní, nó gur chóir gurbh eol dó, gur sárú a bhí ann.
(10) I gcás ina mbeidh feidhm ag an bhfo-alt seo, dlífidh an leithroinní méid a íoc leis an gcuideachta is ionann agus luach ainmniúil na scaireanna, mar aon le hiomlán aon phréimhe nó, má cheanglaítear sin sa chás, cibé comhréir den mhéid sin a áirítear a bheith íoctha leis an gcomaoin, agus dlífidh sé ús a íoc de réir an ráta iomchuí ar an méid is iníoctha faoin bhfo-alt seo.
(11) Beidh feidhm ag alt 26(4) chun críocha an ailt seo amhail mar atá feidhm aige chun críocha an ailt sin.
(12) I gcás ina nglactar leis an gcomaoin go páirteach mar íocaíocht ar luach ainmniúil na scaireanna agus aon phréimhe agus go páirteach i leith comaoine éigin eile ón gcuideachta, beidh feidhm ag forálacha an ailt seo ionann is dá bhfolódh tagairtí don chomaoin a ghlac an chuideachta tagairtí don chomhréir den chomaoin sin is inchurtha go cuí i leith íocaíocht an luacha sin agus aon phréimhe; agus
(a) déanfaidh an duine neamhspleách, nó socróidh sé go ndéanfar, cibé luachálacha eile a chuirfidh ar a chumas an chomhréir sin a chinneadh; agus
(b) luafar ina thuarascáil faoi fho-alt (1) cad iad na luachálacha atá déanta de bhua an fho-ailt seo agus ina theannta sin luafar an chúis a bhí le haon luacháil den sórt sin agus modh agus dáta na luachála agus aon nithe eile is iomchuí don chinneadh sin.
(13) Dearbhaítear leis seo, d'fhonn amhras a sheachaint, nach bhfuil feidhm ag fo-alt (1) ag féachaint don fheidhm a bhaintear as méid atá de thuras na huaire chun creidmheasa d'aon chuntais chúlchiste de chuid na cuideachta nó chun creidmheasa dá cuntas sochair agus dochair chun íoc (go feadh méid ar bith) as aon scaireanna a leithroinneadh ar chomhaltaí na cuideachta nó aon phréimheanna ar aon scaireanna a leithroinneadh amhlaidh; agus i ndáil le haon leithroinnt den sórt sin ní fholaíonn tagairtí san alt seo don chomaoin i leith na leithroinnte aon mhéid den sórt sin as ar baineadh feidhm amhlaidh.
(14) San alt seo—
(a) ciallaíonn “comhshocraíocht” aon chomhaontú, scéim nó comhshocraíocht (lena n-áirítear comhshocraíocht arna ceadú de réir alt 201 nó 260 den Phríomh-Acht);
(b) folaíonn aon tagairt do chuideachta, ach amháin mar a ndéantar, nó mar a ndéanfar, í a fhorléiriú mar thagairt do chuideachta phoiblí theoranta, tagairt d'aon chomhlacht corpraithe agus d'aon chomhlacht ar eisíodh litreacha paitinne chuige faoin Chartered Companies Act, 1837; agus
(c) ní fholóidh aon tagairt d'oifigeach nó do sheirbhíseach tagairt d'iniúchóir.
Tuarascálacha saineolaithe: forlíontach.
31.—(1) Aon duine a mbeidh luacháil á déanamh aige nó tuarascáil á tabhairt aige faoi alt 30 maidir le haon chomaoin atá beartaithe ag an gcuideachta a ghlacadh nó a thabhairt beidh sé i dteideal cibé eolas agus míniú is dóigh leis is gá a fháil ó oifigigh na cuideachta lena chumasú dó an luacháil a dhéanamh nó an tuarascáil a thabhairt agus nóta a sholáthar faoin alt sin.
(2) Cuideachta dá dtabharfar tuarascáil den sórt sin i dtaobh luach aon chomaoine a mbeartaíonn sí scaireanna a leithroinnt ina leith, nó a leithroinnt go páirteach ina leith, seachadfaidh sí cóip den tuarascáil ar chláraitheoir na gcuideachtaí lena clárú an tráth céanna a gcomhdóidh sí an tuairisceán ar leithrannta na scaireanna sin faoi alt 58 den Phríomh-Acht, agus beidh feidhm ag fo-ailt (3) agus (4) den alt sin maidir le mainneachtain an fo-alt seo a chomhlíonadh mar atá feidhm acu maidir le mainneachtain an t-alt sin a chomhlíonadh.
(3) Aon duine a dhéanfaidh ráiteas go feasach nó go meargánta—
(a) ar ráiteas é atá míthreorach, bréagach nó meabhlach i bponc ábhartha, agus
(b) ar ráiteas é lena mbaineann an fo-alt seo,
beidh sé ciontach i gcion.
(4) Tá feidhm ag fo-alt (3) maidir le haon ráiteas a dhéanfar (cibé acu ó bhéal nó i scríbhinn) le haon duine a bhfuil luacháil á déanamh aige nó tuarascáil á tabhairt aige faoi alt 30, ar ráiteas é a thugann aon eolas nó míniú, nó a airbheartaíonn aon eolas nó míniú a thabhairt, atá á éileamh ag an duine sin nó a bhfuil sé i dteideal é a éileamh, faoi fho-alt (1).
Tuarascálacha saineolaithe ar shócmhainní nach sócmhainní airgid a fhaightear ó shínitheoirí, etc.
32.—(1) Aon chuideachta phoiblí theoranta, seachas cuideachta atá athchláraithe faoi alt 12, ní dhéanfaidh sí, mura mbeidh na coinníollacha a luaitear i bhfo-alt (3) comhlíonta, comhaontú le duine iomchuí faoina n-aistreoidh an duine sin le linn na tréimhse tosaigh ceann amháin nó níos nó de shócmhainní nach sócmhainní airgid chuig an gcuideachta nó chuig duine eile ar chomaoin a bheidh le tabhairt ag an gcuideachta agus arb ionann luach di tráth an chomhaontaithe agus an deichiú cuid ar a laghad de luach ainmniúil scairchaipiteal na cuideachta a bheidh eisithe an tráth sin.
(2) San alt seo—
(a) i ndáil le cuideachta a foirmíodh mar chuideachta phoiblí theoranta, ciallaíonn “duine iomchuí” aon sínitheoir le meabhrán na cuideachta agus ciallaíonn “tréimhse tosaigh” an tréimhse dhá bhliain dar tosach an dáta a n-eiseofar deimhniú faoi alt 6 chuig an gcuideachta á rá go bhfuil sí i dteideal gnó a dhéanamh;
(b) i ndáil le cuideachta a athchláraíodh, nó a cláraíodh de réir alt 18, mar chuideachta phoiblí theoranta, ciallaíonn “duine iomchuí” aon duine a bhí ina chomhalta den chuideachta ar dháta an athchláraithe nó an chláraithe agus ciallaíonn “tréimhse tosaigh” an tréimhse dhá bhliain dar tosach an dáta sin.
(3) Is iad na coinníollacha dá dtagraítear i bhfo-alt (1)—
(a) go mbeidh an chomaoin atá le glacadh ag an gcuideachta (is é sin le rá, an tsócmhainn atá le haistriú chuig an gcuideachta nó an buntáiste don chuideachta as í a aistriú chuig duine eile), agus aon chomaoin seachas airgead atá le tabhairt ag an gcuideachta, luacháilte faoi na forálacha seo a leanas den alt seo (gan dochar d'aon cheanglas luacháil a dhéanamh ar aon chomaoin faoi alt 30);
(b) go mbeidh tuarascáil, maidir leis an gcomaoin a bheidh le glacadh agus le tabhairt amhlaidh, tugtha don chuideachta de réir na bhforálacha sin sa tréimhse sé mhí díreach roimh dháta an chomhaontaithe;
(c) go mbeidh glactha le téarmaí an chomhaontaithe trí ghnáthrún ón gcuideachta; agus
(d) go mbeidh, tráth nach déanaí ná an dáta ar a dtabharfar an fógra faoin gcruinniú ag a bhfuil an rún á thairgeadh, cóipeanna den rún agus den tuarascáil curtha amach chuig comhaltaí na cuideachta atá i dteideal an fógra sin a fháil, agus, i gcás nach comhalta den sórt sin an duine iomchuí an tráth sin, chuig an duine sin.
(4) Ní bheidh feidhm ag fo-alt (1) maidir leis na comhaontuithe seo a leanas chun sócmhainn a aistriú ar chomaoin a bheidh le tabhairt ag an gcuideachta, is é sin le rá—
(a) i gcás ar cuid de ghnáth-ghnó na cuideachta é sócmhainní de thuairisc áirithe a fháil nó socrú a dhéanamh chun daoine eile iad a fháil, comhaontú arna dhéanamh ag an gcuideachta i ngnáth-chúrsa a gnó chun sócmhainn den tuairisc sin a aistriú chuici nó chuig duine den sórt sin, de réir mar a bheidh; nó
(b) comhaontú arna dhéanamh ag an gcuideachta faoi mhaoirsiú na cúirte nó oifigigh arna údarú ag an gcúirt chun na críche, chun sócmhainn a aistriú chuig an gcuideachta nó chuig duine eile.
(5) Beidh feidhm ag alt 30 (5) agus (7) maidir le luacháil agus tuarascáil ar aon chomaoin faoin alt seo amhail mar atá feidhm ag na fo-ailt sin maidir le luacháil agus tuarascáil ar aon chomaoin faoi fho-alt (1) den alt sin.
(6) Maidir leis an tuarascáil ón duine neamhspleách faoin alt seo—
(a) luafar inti an chomaoin atá le fáil ag an gcuideachta, ag tabhairt tuairisce ar an tsócmhainn atá i gceist agus ag sonrú an méid atá le fáil in airgead, agus luafar an chomaoin atá le tabhairt ag an gcuideachta, ag sonrú an méid atá le tabhairt in airgead;
(b) luafar inti an modh luachála agus dáta na luachála;
(c) beidh nóta inti nó ag gabháil léi maidir leis na nithe a luaitear in alt 30 (8) (a) go (c); agus
(d) beidh nóta inti nó ag gabháil léi á rá, ar bhonn na luachála, nach lú luach na comaoine atá le fáil ag an gcuideachta ná luach na comaoine atá le tabhairt aici.
(7) Má dhéanann cuideachta phoiblí theoranta comhaontú le haon duine iomchuí de shárú ar fho-alt (1) agus más rud é nach mbeidh tuarascáil faoin alt seo faighte aige nó go mbeidh sárú éigin eile déanta ar an alt seo nó ar alt 30 (5) nó (7) arbh eol dó, nó ar chóir gurbh eol dó, gur sárú é, ansin, faoi réir fho-alt (8)—
(a) beidh an chuideachta i dteideal aon chomaoin a thug an chuideachta faoin gcomhaontú, nó méid is ionann agus a luach tráth an chomhaontaithe, a ghnóthú ón duine iomchuí; agus
(b) beidh an comhaontú, a mhéid is nach mbeidh sé curtha i gcrích, ar neamhní.
(8) Má dhéanann cuideachta comhaontú de shárú ar fho-alt (1) agus más comhaontú é, nó má áirítear comhaontú ann, chun scaireanna sa chuideachta sin a leithroinnt, ansin, cibé acu a sháraíonn nó nach sáraíonn an comhaontú alt 30 freisin—
(a) ní bheidh feidhm ag fo-alt (7) maidir leis an gcomhaontú sa mhéid is gur comhaontú é chun scaireanna a leithroinnt; agus
(b) beidh feidhm ag alt 26 (4) agus ag alt 30 (10) i ndáil leis na scaireanna amhail is dá mbeidís leithroinnte de shárú ar alt 30.
Forálacha d'fhorlíonadh alt 32.
33.—(1) Aon duine a bheidh ag déanamh luachála nó ag tabhairt tuarascála faoi alt 32 beidh sé i dteideal cibé eolas agus míniú is dóigh leis is gá a fháil ó oifigigh na cuideachta chun a chumasú dó an luacháil a dhéanamh nó an tuarascáil a thabhairt agus an nóta a sholáthar a cheanglaítear leis an alt sin; agus beidh feidhm ag alt 31 (3) i ndáil le haon luacháil agus tuarascáil den sórt sin amhail mar atá feidhm aige i ndáil le luacháil agus le tuarascáil faoi alt 30 (1) ach tagairt don fho-alt seo a chur in ionad na tagartha in alt 31 (4) d'alt 31 (1).
(2) Cuideachta a mbeidh rún faoi alt 32 rite aici maidir le haistriú sócmhainne, déanfaidh sí, laistigh de 15 lá tar éis an rún sin a rith, cóip den rún mar aon leis an tuarascáil a cheanglaítear leis an alt sin a sheachadadh ar chláraitheoir na gcuideachtaí agus, má mhainníonn an chuideachta é sin a dhéanamh dlífear fíneáil nach mó ná £250 a chur ar an gcuideachta agus ar gach oifigeach don chuideachta a rinne mainneachtain, ar iad a chiontú go hachomair, mar aon le fíneáil, i gcás ciona leanúnaigh, nach mó ná £25 in aghaidh gach lae a leanfar den chion ach gan dul thar £500 san iomlán.
(3) Aon tagairt in alt 32 nó san alt seo do chomaoin a thabharfar ar aistriú sócmhainne folaíonn sí tagairt do chomaoin a thabharfar go páirteach ar aistriú na sócmhainne sin ach—
(a) glacfar leis gurb éard é luach aon chomaoine a thabharfar go páirteach amhlaidh an chomhréir den chomaoin sin is inchurtha go cuí i leith a haistrithe;
(b) déanfaidh an duine neamhspleách, nó socróidh sé go ndéanfar, cibé luachálacha ar aon ní eile a chuirfidh ar a chumas an chomhréir sin a chinneadh; agus
(c) luafar ina thuarascáil faoin alt sin cén luacháil atá déanta de bhua na míre seo agus ina theannta sin luafar an chúis a bhí le haon luacháil den sórt sin agus modh agus dáta na luachála agus aon nithe eile is iomchuí don chinneadh sin.
Faoiseamh.
34.—(1) Má bhíonn aon duine faoi dhliteanas ag cuideachta faoi alt 26, 29, 30 nó 32 i ndáil le híocaíocht i leith aon scaireanna sa chuideachta nó faoi dhliteanas de bhua aon ghealltanas a tugadh don chuideachta mar íocaíocht, nó i ndáil le híocaíocht, ar aon scaireanna den sórt sin, féadfaidh an duine atá faoi dhliteanas amhlaidh iarratas a dhéanamh chun na cúirte faoin bhfo-alt seo go ndéanfaí é a dhíolmhú go hiomlán nó go páirteach ón dliteanas sin.
(2) Más rud é, maidir leis an dliteanas a luaitear i bhfo-alt (1), gur faoi aon alt de na hailt sin a eascróidh an dliteanas sin i ndáil le híocaíocht i leith aon scaireanna, féadfaidh an chúirt, ar iarratas faoin bhfo-alt sin, an t-iarratasóir a dhíolmhú ón dliteanas sin—
(a) ar an gcoinníoll amháin agus sa mhéid gur dóigh leis an gcúirt é a bheith cóir cothromasach déanamh amhlaidh ag féachaint don mhéid seo a leanas, eadhon—
(i) an ndearna nó an ndlíonn an t-iarratasóir aon mhéid a íoc i leith aon dliteanas eile a eascraíonn i ndáil leis na scaireanna sin faoi aon alt de na hailt sin, nó i leith aon dliteanas a eascraíonn de bhua aon ghealltanas a tugadh mar íocaíocht nó i ndáil le híocaíocht ar na scaireanna sin;
(ii) an ndearna aon duine, nó an dóigh d'aon duine, seachas an t-iarratasóir (cibé acu de bhun ordú ón gcúirt nó ar shlí eile) aon mhéid den sórt sin a íoc; agus
(iii) an ndearna an t-iarratasóir nó aon duine eile, nó an dóigh don iarratasóir nó d'aon duine eile, aon ghealltanas den sórt sin a chomhlíonadh go hiomlán nó go páirteach nó an ndearna sé aon ní eile, nó an dóigh dó aon ní eile a dhéanamh, mar íocaíocht nó mar pháirt-íocaíocht i leith na scaireanna sin;
(b) ar an gcoinníoll amháin agus sa mhéid gur dóigh leis an gcúirt é bheith cóir cothromasach déanamh amhlaidh maidir le haon ús a dhlíonn sé a íoc leis an gcuideachta faoi aon alt de na hailt sin.
(3) Más rud é, maidir leis an dliteanas a luaitear i bhfo-alt (1), gur de bhua gealltanais a tugadh don chuideachta mar íocaíocht, nó i ndáil le híocaíocht, ar aon scaireanna sa chuideachta a eascraíonn sé, féadfaidh an chúirt ar iarratas faoin bhfo-alt sin, an t-iarratasóir a dhíolmhú ón dliteanas sin ar an gcoinníoll amháin agus sa mhéid gur dóigh leis an gcúirt é bheith cóir cothromasach déanamh amhlaidh ag féachaint don mhéid seo a leanas, eadhon—
(a) an ndearna nó an ndlíonn an t-iarratasóir aon mhéid a íoc i leith aon dliteanas a eascraíonn i ndáil leis na scaireanna sin faoi alt 26, 29, 30 nó 32; agus
(b) an ndearna aon duine, nó an dóigh d'aon duine, seachas an t-iarratasóir (cibé acu de bhun ordú ón gcúirt nó ar shlí eile) aon mhéid den sórt sin a íoc.
(4) Le linn don chúirt a bheith á chinneadh de bhun iarratais faoi fho-alt (1) ar chóir di an t-iarratasóir a dhíolmhú go hiomlán nó go páirteach ó aon dliteanas, tabharfaidh sí aird ar na prionsabail dhosháraithe seo a leanas, eadhon—
(a) gur chóir go bhfaigheadh cuideachta a leithroinn scaireanna, airgead nó luach airgid arb ionann dó ar a laghad ó thaobh luacha agus comhiomlán luach ainmniúil na scaireanna sin agus iomlán aon phréimhe nó, i gcás ina n-éilítear sin sa chás, cibé méid den chomhiomlán sin a áirítear a bheith íoctha; agus
(b) faoi réir mhír (a), i gcás go mbeadh ag an gcuideachta sin, dá mbeadh an chúirt gan an díolúine sin a dheonú, níos mó ná aon leigheas amháin in aghaidh duine áirithe, gur don chuideachta a bheadh sé a chinneadh cé acu leigheas a mbeadh sé fós i dteideal dul ina árach.
(5) Má thionscnaíonn duine aon imeachtaí i gcoinne duine eile (“an ranníocóir”) faoi chomhair ranníoca maidir le haon dliteanas i leith cuideachta is dliteanas a eascraíonn faoi aon alt d'ailt 26 go 30 agus 32 agus gur dealraitheach don chúirt go ndlíonn an ranníocóir an ranníoc sin a dhéanamh, féadfaidh an chúirt, ar an gcoinníoll gur dóigh, agus sa mhéid gur dóigh, leis an gcúirt é bheith cóir cothromasach déanamh amhlaidh ag féachaint do chiontacht an ranníocóra agus an duine atá ag tionscnamh na n-imeachtaí, faoi seach, maidir leis an dliteanas i leith na cuideachta—
(a) an ranníocóir a dhíolmhú go hiomlán nó go páirteach óna dhliteanas chun an ranníoc sin a dhéanamh; nó
(b) a ordú don ranníocóir ranníoc níos mó a dhéanamh ná a dhlífeadh sé a dhéanamh murach an fo-alt seo.
(6) I gcás duine a bheith faoi dhliteanas ag cuideachta de bhua alt 32 (7) (a), féadfaidh an chúirt, ar iarratas faoin bhfo-alt seo, an duine sin a dhíolmhú go hiomlán nó go páirteach ón dliteanas sin ar an gcoinníoll gur dóigh, agus sa mhéid gur dóigh, leis an gcúirt é bheith cóir cothromasach déanamh amhlaidh ag féachaint d'aon tairbhe a fhaibhreoidh chuig an gcuideachta de bhua aon ní a rinne an duine sin chun an comhaontú a luaitear san fho-alt sin a chur i gcrích.
Forálacha speisialta maidir le scaireanna a eisiúint chuig sínitheoirí.
35.—Is in airgead a íocfar aon scaireanna a ghlacfaidh sínitheoir le meabhrán cuideachta poiblí teoranta de bhun gealltanais dá chuid sa mheabhrán, agus aon phréimh ar na scaireanna.
Sárú ar ailt 26 go 35.
36.—(1) Má sháraíonn cuideachta aon fhoráil d'fhorálacha ailt 26 go 30, 32 agus 35, beidh an chuideachta agus aon oifigeach don chuideachta a rinne mainneachtain ciontach i gcion.
(2) Faoi réir alt 34, aon ghealltanas a thabharfaidh aon duine mar íocaíocht, nó i ndáil le híocaíocht, ar scaireanna i gcuideachta chun obair a dhéanamh nó seirbhísí a thabhairt nó aon ní eile a dhéanamh, beidh sé, i gcás é bheith inchurtha i bhfeidhm ag an gcuideachta ar leith ón Acht seo, inchurtha i bhfeidhm amhlaidh d'ainneoin sárú a bheith ann i ndáil leis sin ar alt 26, 29 nó 30 agus má thugtar an gealltanas sin de shárú ar alt 32 i leith na leithroinnte ar aon scaireanna beidh sé inchurtha i bhfeidhm amhlaidh d'ainneoin an tsáraithe sin.
Feidhmiú ailt 26 go 36 i gcásanna speisialta.
37.—(1) Faoi réir fho-alt (2), beidh feidhm ag ailt 26, 28 go 31 agus 34 go 36 maidir leis na cuideachtaí seo a leanas amhail mar atá feidhm acu maidir le cuideachta phoiblí theoranta—
(a) cuideachta a rith agus nár chúlghair rún speisialta go ndéanfaí í a athchlárú faoi alt 9 nó alt 11;
(b) cuideachta a rith agus nár chúlghair a stiúrthóirí rún go ndéanfaí í a athchlárú faoi alt 12; agus
(c) cuideachta chomhstoic (de réir bhrí alt 329 den Phríomh-Acht) a rith agus nár chúlghair rún á rá gur cuideachta phoiblí theoranta a bheidh sa chuideachta.
(2) Ní bheidh feidhm ag alt 26 agus ag ailt 28 go 31 maidir le leithroinnt scaireanna ag cuideachta, seachas cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, i gcás ina ndearnadh an conradh chun iad a leithroinnt—
(a) ach amháin i gcás atá faoi réim mhír (b), roimh dheireadh na tréimhse eatramhaí ginearálta;
(b) i gcás cuideachta a athchláraíodh nó a cláraíodh mar chuideachta phoiblí theoranta de bhun rúin de thuairisc ar bith a luaitear i bhfo-alt (1) a bheidh rite roimh dheireadh na tréimhse sin, roimh dháta rite an rúin sin.
Cearta cineáil
Athrú ar chearta a ghabhann le cineálacha speisialta scaireanna.
38.—(1) Beidh éifeacht leis an alt seo maidir le hathrú a dhéanamh ar na cearta a ghabhann le haon chineál scaireanna i gcuideachta a bhfuil a scairchaipiteal roinnte ina scaireanna de chineálacha éagsúla.
(2) I gcás gur ar shlí eile seachas leis an meabhrán a chuirtear na cearta ag gabháil le cineál scaireanna sa chuideachta, agus i gcás nach bhfuil aon fhoráil in airteagail na cuideachta maidir leis na cearta a athrú, féadfar na cearta sin a athrú ar choinníoll, agus ar an gcoinníoll amháin—
(a) go dtabharfaidh na sealbhóirí ar thrí cheathrú ó thaobh luacha ainmniúil de na scaireanna eisithe den chineál sin a dtoiliú i scríbhinn leis an athrú; nó
(b) go gceadófar an t-athrú le rún speisialta a rithfear ag cruinniú ginearálta ar leithligh de shealbhóirí an chineáil sin;
agus go ndéanfar aon cheanglas (cibé slí a fhoirchuirfear é) i ndáil leis na cearta sin a athrú a chomhlíonadh sa mhéid nach n-áirítear é i míreanna (a) agus (b).
(3) Más rud é—
(a) gur leis an meabhrán nó ar shlí eile a chuirtear na cearta ag gabháil le cineál scaireanna sa chuideachta;
(b) go bhfuil foráil sa meabhrán nó sna hairteagail chun na cearta sin a athrú; agus
(c) go bhfuil an t-athrú ar na cearta sin bainteach le húdarás a thabhairt, a athrú, a chúlghairm nó a athnuachan chun críocha alt 20 nó bainteach le laghdú ar scairchaipiteal na cuideachta faoi alt 72 den Phríomh-Acht,
ní athrófar na cearta sin mura rud é—
(i) go mbeidh an coinníoll a luaitear i bhfo-alt (2) (a) nó (b) comhlíonta; agus
(ii) go ndéanfar aon cheanglas sa mheabhrán nó sna hairteagail i ndáil le cearta den chineál sin a athrú a chomhlíonadh a mhéid nach n-áirítear é sa choinníoll i bhfomhír (i).
(4) Más leis an meabhrán nó ar shlí eile a chuirtear na cearta ag gabháil le cineál scaireanna sa chuideachta agus—
(a) i gcás gur leis an meabhrán a chuirtear ag gabháil iad amhlaidh, go bhfuil foráil sna hairteagail maidir lena n-athrú a bhí ar áireamh sna hairteagail an tráth a rinneadh an chuideachta a chorprú i gcéaduair; nó
(b) i gcás gur ar shlí eile a chuirtear ag gabháil iad amhlaidh, go bhfuil an fhoráil sin sna hairteagail (cibé tráth a rinneadh iad a áireamh amhlaidh ar dtús);
agus, i gceachtar cás, nach bhfuil an t-athrú bainteach amhail mar a luaitear i bhfo-alt (3) (c), ní fhéadfar na cearta sin a athrú ach amháin de réir na forála sin sna hairteagail.
(5) I gcás gur leis an meabhrán a chuirtear na cearta ag gabháil le cineál scaireanna sa chuideachta agus nach bhfuil foráil sa mheabhrán ná sna hairteagail maidir leis na cearta a athrú, féadfar na cearta sin a athrú má aontaíonn comhaltaí uile na cuideachta leis an athrú.
(6) Na forálacha d'ailt 133 agus 134 den Phríomh-Acht agus na forálacha de na hairteagail a bhaineann le cruinnithe ginearálta beidh, a mhéid is infheidhme iad, feidhm acu i ndáil le haon chruinniú de scairshealbhóirí a cheanglaítear leis an alt seo nó ar shlí eile a bheith ann i ndáil leis na cearta a ghabhann le cineál scaireanna a athrú, agus beidh feidhm acu amhlaidh fara na modhnuithe is gá agus faoi réir na bhforálacha seo a leanas, eadhon—
(a) ag aon chruinniú den sórt sin seachas cruinniú atrátha is é an córam is gá ná beirt a shealbhaíonn nó a ionadaíonn mar sheachvótálaithe trian ar a laghad ó thaobh luacha ainmniúil de na scaireanna eisithe den chineál i gceist agus ag cruinniú atrátha duine amháin a shealbhaíonn scaireanna den chineál i gceist nó a sheachvótálaí;
(b) féadfaidh aon sealbhóir ar scaireanna den chineál i gceist a bheidh i láthair go pearsanta nó trí sheachvótálaí vótáil a éileamh.
(7) Má dhéantar aon athrú ar fhoráil in airteagail chuideachta chun na cearta a ghabhann le cineál scaireanna a athrú nó má chuirtear aon fhoráil den sórt sin isteach in airteagail na cuideachta, áireofar an méid sin mar athrú ar na cearta sin.
(8) Beidh feidhm ag alt 78 den Phríomh-Acht i ndáil le fo-alt (2) amhail mar atá feidhm aige i ndáil le foráil i meabhrán nó in airteagail chuideachta lena samhail d'éifeacht.
(9) San alt seo agus, ach amháin mar a n-éilíonn an comhthéacs a mhalairt, in aon fhoráil chun athrú a dhéanamh ar na cearta a ghabhann le cineál scaireanna i meabhrán nó in airteagail na cuideachta, folóidh tagairtí d'athrú na gceart sin tagairtí dá n-aisghairm.
(10) Ní fhorléireofar aon ní i bhfo-ailt (2) go (5) mar ní a bhainfidh ó chumhachtaí na cúirte faoi alt 15 ná faoi aon alt de na hailt seo a leanas den Phríomh-Acht, is é sin le rá, ailt 10, 201, 203 agus 205.
(11) Ní bheidh feidhm ag an alt seo i ndáil le haon athrú a dhéanfaidh cuideachta, seachas cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, roimh an dáta a tharlóidh an teagmhas is túisce de na teagmhais seo a leanas, is é sin le rá, athchlárú nó clárú na cuideachta mar chuideachta phoiblí theoranta agus deireadh na tréimhse eatramhaí ginearálta.
Sonraí faoi chearta speisialta a chlárú.
39.—(1) I gcás ina leithroinnfidh cuideachta scaireanna lena ngabhann cearta nach mbeidh luaite ina meabhrán ná ina hairteagail ná in aon rún nó comhaontú lena mbaineann alt 143 den Phríomh-Acht, déanfaidh an chuideachta, mura rud é go bhfuil na scaireanna ar aon réim, ar gach cuma, le scaireanna a leithroinneadh roimhe sin, ráiteas san fhoirm fhorordaithe agus sonraí ann faoi na cearta sin a sheachadadh ar chláraitheoir na gcuideachtaí laistigh de mhí amháin ó dháta leithroinnte na scaireanna.
(2) Ní áireofar, chun críocha fho-alt (1), scaireanna a leithroinnfear agus na cearta sin ag gabháil leo mar scaireanna atá éagsúil le scaireanna a leithroinneadh roimhe sin de bhíthin amháin nach ngabhann leis na chéad scaireanna sin na cearta céanna chun díbhinní a ghabhann leis na scaireanna deiridh sin i gcaitheamh an dá mhí dhéag díreach tar éis leithroinnt na chéad scaireanna sin.
(3) Má dhéantar na cearta a ghabhann le haon scaireanna de chuid cuideachta a athrú ar shlí seachas trí leasú ar mheabhrán nó airteagail na cuideachta nó trí rún nó comhaontú lena mbaineann an t-alt sin 143, déanfaidh an chuideachta, laistigh de mhí amháin ón dáta ar a ndéanfar an t-athrú, ráiteas san fhoirm fhorordaithe, agus sonraí ann faoin athrú, a sheachadadh ar chláraitheoir na gcuideachtaí.
(4) I gcás ina ndéanfaidh cuideachta (ar shlí seachas trí cibé leasú, rún nó comhaontú dá luaitear i bhfo-alt (3)) ainm nó ainmníocht eile, nó ainm nua nó ainmníocht nua eile a shannadh d'aon chineál dá scaireanna, déanfaidh sí, laistigh de mhí amháin ón sannadh sin, fógra san fhoirm fhorordaithe, ag tabhairt sonraí ina dtaobh, a sheachadadh ar chláraitheoir na gcuideachtaí.
(5) Má mhainníonn cuideachta an t-alt seo a chomhlíonadh, beidh an chuideachta agus gach oifigeach don chuideachta a rinne mainneachtain ciontach i gcion agus dlífear, ar iad a chiontú go hachomair, fíneáil nach mó ná £250 a chur orthu, mar aon le fíneáil i gcás ciona leanúnaigh, nach mó ná £15 in aghaidh gach lae a leanfar den chion ach gan dul thar £500 san iomlán.
Cothabháil caipitil
Oibleagáid cruinniú ginearálta urghnách a chomóradh má tharlaíonn caillteanas tromaí caipitil.
40.—(1) Faoi réir fho-alt (4), i gcás inar ionann glansócmhainní cuideachta agus leath nó riar is lú ná leath de mhéid scairchaipiteal glaoite na cuideachta, beidh ar stiúrthóirí na cuideachta, tráth nach déanaí ná 28 lá ón lá is túisce a mbeidh a fhios sin ag stiúrthóir de chuid na cuideachta, cruinniú ginearálta urghnách den chuideachta a chomóradh go cuí i gcomhair dáta nach déanaí ná 56 lá ón lá sin chun a bhreithniú ar chóir aon bhearta a dhéanamh chun déileáil leis an gcor, agus más cóir, cad iad na bearta iad.
(2) Má mhainnítear cruinniú ginearálta urghnách de chuideachta a chomóradh mar a cheanglaítear le fo-alt (1), beidh gach stiúrthóir de chuid na cuideachta—
(a) a dhéanfaidh go feasach agus go toiliúil an mhainneachtain sin a údarú nó a cheadú; nó
(b) a dhéanfaidh go feasach agus go toiliúil, tar éis bheith caite don tréimhse inar chóir an cruinniú sin a chomóradh, buanú na mainneachtana sin a údarú nó a cheadú,
ciontach i gcion.
(3) Ní tuigthe go n-údaraíonn aon ní san alt seo breithniú a dhéanamh, ag cruinniú a chomórfar de bhun fho-alt (1), ar aon ábhar nach bhféadfaí a bhreithniú ag an gcruinniú sin ar leith ón alt seo.
(4) Ní bheidh feidhm ag an alt seo i gcás ar lá roimh an lá ceaptha an lá a luaitear i bhfo-alt (1).
Srian le cuideachta d'fháil a scaireanna féin.
41.—(1) Faoi réir na bhforálacha seo a leanas den alt seo, aon chuideachta atá faoi theorainn scaireanna nó atá faoi theorainn ráthaíochta agus a bhfuil scairchaipiteal aici, ní cead di a scaireanna féin a fháil (cibé acu trína gceannach, trí shuibscríobh nó ar shlí eile).
(2) Féadfaidh aon chuideachta atá faoi theorainn scaireanna aon scair dá cuid scaireanna láníoctha féin a fháil ar shlí seachas ar chomaoin luachmhar.
(3) Má airbheartaíonn cuideachta gníomhú de shárú ar an alt seo beidh an chuideachta agus gach oifigeach don chuideachta a rinne mainneachtain ciontach i gcion agus beidh an fháil airbheartaithe ar neamhní.
(4) Ní bheidh feidhm ag fo-alt (1) i ndáil leis an méid seo a leanas—
(a) fuascailt ar scaireanna tosaíochta de bhun na n-airteagal;
(b) fáil aon scaireanna i laghdú caipitil arna dhéanamh go cuí;
(c) ceannach aon scaireanna de bhun ordú ón gcúirt faoi alt 15 nó faoi alt 10 nó alt 205 den Phríomh-Acht; nó
(d) forghéilleadh aon scaireanna, nó glacadh aon scaireanna arna dtabhairt suas ina ionad sin, de bhun na n-airteagal mar gheall ar mhainneachtain aon suim is iníoctha i leith na scaireanna sin a íoc.
Ainmnitheach cuideachta d'fháil scaireanna i gcuideachta.
42.—(1) Faoi réir fho-ailt (5) agus (6), má eisítear scaireanna chuig ainmnitheach cuideachta dá dtagraítear in alt 41 (1) nó má fhaigheann ainmnitheach cuideachta den sórt sin iad ó thríú páirtí mar scaireanna páirt-íoctha, ansin, chun gach críche, áireofar gur scaireanna iad a shealbhaíonn an t-ainmnitheach ar a chuntas féin agus measfar nach bhfuil aon leas tairbhiúil ag an gcuideachta iontu.
(2) Faoi réir fho-alt (6), má iarrtar ar dhuine aon mhéid áirithe a íoc chun íoc as aon scaireanna in aon chuideachta den sórt sin a eisíodh chuige nó a fuair sé ar shlí eile mar ainmnitheach na cuideachta nó chun íoc as aon phréimh ar na scaireanna sin, agus má mhainníonn sé an méid sin a íoc laistigh de 21 lá ón dáta a n-iarrfar air é sin a dhéanamh, ansin—
(a) más mar shínitheoir leis an meabhrán a eisíodh na scaireanna chuige de bhua gealltanais dá chuid sa mheabhrán, beidh na sínitheoirí eile leis an meabhrán; nó
(b) má eisíodh na scaireanna chuige nó má fuair sé iad ar shlí eile, beidh stiúrthóirí na cuideachta tráth na heisiúna nó na fála,
faoi dhliteanas i gcomhpháirt agus go leithleach leis an duine sin chun an méid sin a íoc.
(3) Más rud é in imeachtaí chun aon mhéid den sórt sin a ghnóthú ó aon sínitheoir nó stiúrthóir den sórt sin faoin alt seo gur dealraitheach don chúirt go bhfuil nó go mb'fhéidir go mbeadh sé faoi dhliteanas an méid sin a íoc, ach gur ghníomhaigh sé go macánta agus go réasúnach, agus, ag féachaint d'imthosca uile an cháis, gur chóir le ceart é a shaoradh ó dhliteanas, féadfaidh an chúirt faoiseamh óna dhliteanas a thabhairt dó, go hiomlán nó go páirteach, ar cibé téarmaí is cuí leis an gcúirt.
(4) Má bhíonn cúis ag aon sínitheoir nó stiúrthóir den sórt sin chun a cheapadh go ndéanfar, nó go mb'fhéidir go ndéanfaí, éileamh chun aon mhéid den sórt sin a ghnóthú uaidh, féadfaidh sé faoiseamh a iarraidh ar an gcúirt agus, i gcás an iarratais, beidh an chumhacht chéanna ag an gcúirt chun faoiseamh a thabhairt dó a bheadh aici in imeachtaí chun an méid sin a ghnóthú.
(5) Ní bheidh feidhm ag fo-alt (1) maidir le scaireanna a gheofar ar shlí seachas trína suibscríobh ag ainmnitheach cuideachta poiblí teoranta i gcás atá faoi réim alt 43 (1) (d).
(6) Ní bheidh feidhm ag fo-ailt (1) agus (2) maidir le—
(a) scaireanna a gheobhaidh ainmnitheach cuideachta i gcás nach bhfuil aon leas tairbhiúil ag an gcuideachta sna scaireanna sin (gan aird a thabhairt ar aon cheart a d'fhéadfadh a bheith ag an gcuideachta féin mar iontaobhaí, cibé acu mar ionadaí pearsanta nó ar shlí eile, chun a cuid caiteachas a ghnóthú nó chun luach saothair a fháil as maoin an iontaobhais); nó
(b) scaireanna a eiseofar de dhroim iarratas a rinneadh roimh an lá ceaptha nó a aistreofar de bhun comhaontú lena bhfáil a rinneadh roimh an lá sin.
Déileáil le scaireanna a shealbhaíonn cuideachta phoiblí theoranta nó a shealbhaítear thar a ceann.
43.—(1) Faoi réir fho-ailt (12) agus (15), tá feidhm ag an alt seo maidir le cuideachta phoiblí theoranta—
(a) i gcás ina ndéanfar scaireanna sa chuideachta a fhorghéilleadh, nó a thabhairt suas don chuideachta ina ionad sin, de bhun na n-airteagal mar gheall ar mhainneachtain aon suim is iníoctha i leith na scaireanna sin a íoc;
(b) i gcás ina bhfaighidh an chuideachta scaireanna sa chuideachta ar mhodh eile seachas aon mhodh de na modhanna a luaitear in alt 41 (4) agus go bhfuil leas tairbhiúil ag an gcuideachta sna scaireanna sin;
(c) i gcás ina bhfaighidh ainmnitheach na cuideachta scaireanna sa chuideachta ó thríú duine gan cúnamh airgid a bheith tugtha go díreach nó go neamhdhíreach ag an gcuideachta agus go bhfuil leas tairbhiúil ag an gcuideachta sna scaireanna sin; nó
(d) i gcás ina bhfaighidh aon duine scaireanna sa chuideachta le cúnamh airgid arna thabhairt dó go díreach nó go neamhdhíreach ag an gcuideachta faoi chomhair nó i leith na fála agus go bhfuil leas tairbhiúil ag an gcuideachta sna scaireanna sin.
(2) Nuair a bheifear á chinneadh chun críocha fho-alt (1) (b) agus (c) an bhfuil leas tairbhiúil ag cuideachta in aon scaireanna, ní thabharfar, in aon chás inar iontaobhaí an chuideachta (cibé acu mar ionadaí pearsanta nó ar shlí eile), aird ar aon cheart de chuid na cuideachta (mar iontaobhaí) a cuid caiteachas a ghnóthú nó luach saothair a fháil as maoin an iontaobhais.
(3) Mura mbeidh na scaireanna, nó aon leas de chuid na cuideachta iontu, curtha de láimh cheana féin, ní foláir don chuideachta, tráth nach déanaí ná deireadh na tréimhse iomchuí ón dáta a forghéilleadh nó a tugadh suas iad, nó i gcás lena mbaineann fo-alt (1) (b), (c) nó (d), ó dháta a bhfála—
(a) iad a chealú agus méid an scairchaipitil a laghdú de mhéid luach ainmniúil na scaireanna; agus
(b) i gcás inarb é is éifeacht leis an gcealú scaireanna go dtabharfaidh sé luach ainmniúil scairchaipiteal leithroinnte na cuideachta faoi bhun an íosmhéid údaraithe, athchlárú mar fhoirm eile cuideachta a iarraidh agus éifeacht an chealaithe a lua,
agus féadfaidh na stiúrthóirí cibé bearta a bheidh ag teastáil a dhéanamh chun a chur ar chumas na cuideachta a hoibleagáidí faoin bhfo-alt seo a chur i gcrích gan ailt 72 agus 73 den Phríomh-Acht a chomhlíonadh, lena n-áirítear rún a rith de réir fho-alt (5).
(4) Ní dhéanfaidh an chuideachta nó, i gcás atá faoi réim fho-alt (1) (c) nó (d), ní dhéanfaidh ainmnitheach na cuideachta ná, de réir mar a bheidh, an scairshealbhóir eile, aon chearta vótáil a fheidhmiú i leith na scaireanna agus beidh aon fheidhmiú airbheartaithe ar na cearta sin ar neamhní.
(5) Féadfaidh an rún a údaraítear le fo-alt (3) meabhrán na cuideachta a athrú ionas nach luafar ann a thuilleadh gur cuideachta phoiblí theoranta a bheidh sa chuideachta agus féadfaidh an rún cibé athruithe eile atá ag teastáil sna himthosca a dhéanamh sa mheabhrán agus sna hairteagail.
(6) Ní foláir an t-iarratas ar athchlárú a cheanglaítear le fo-alt (3) (b) a bheith san fhoirm fhorordaithe agus a bheith sínithe ag stiúrthóir nó ag rúnaí sa chuideachta agus ní foláir é a sheachadadh ar an gcláraitheoir mar aon le cóip chlóite de mheabhrán agus d'airteagail na cuideachta mar a athraíodh iad leis an rún.
(7) Cuideachta phoiblí theoranta a gceanglaítear uirthi athchlárú a iarraidh mar fhoirm eile cuideachta faoin alt seo agus a mhainneoidh déanamh amhlaidh roimh dheireadh na tréimhse iomchuí, beidh feidhm ag alt 21 maidir léi amhail is dá mba chuideachta phríobháideach í den sórt a luaitear san alt sin, ach, ar leith ón méid atá ráite ansin roimhe seo, leanfar den chuideachta a áireamh chun críocha Achtanna na gCuideachtaí mar chuideachta phoiblí theoranta go dtí go ndéanfar í a athchlárú mar fhoirm eile cuideachta.
(8) Má mhainníonn cuideachta, nuair a cheanglófar uirthi déanamh amhlaidh le fo-alt (3), aon scaireanna a chealú de réir mhír (a) den fho-alt sin nó iarratas a dhéanamh ar athchlárú de réir mhír (b) den fho-alt sin, beidh an chuideachta agus gach oifigeach don chuideachta a rinne mainneachtain ciontach i gcion agus dlífear, ar iad a chiontú go hachomair, fineáil nach mó ná £250 a chur orthu mar aon le fíneáil, i gcás ciona leanúnaigh, nach mó ná £25 in aghaidh gach lae a leanfar den chion, ach gan dul thar £500 san iomlán.
(9) Má bhíonn an cláraitheoir sásta go bhféadfar cuideachta a athchlárú de réir an ailt seo—
(a) coinneoidh sé an t-iarratas agus na doiciméid eile a seachadadh air faoi fho-alt (6); agus
(b) eiseoidh sé deimhniú corpraithe iomchuí chuig an gcuideachta.
(10) Ar dheimhniú corpraithe a eisiúint faoi fho-alt (9)—
(a) déanfar, de bhua eisiúint an deimhnithe sin, cuideachta den fhoirm a bheidh luaite sa deimhniú den chuideachta; agus
(b) beidh éifeacht dá réir sin leis na hathruithe sa mheabhrán agus sna hairteagail a bheidh leagtha amach sa rún.
(11) Beidh deimhniú corpraithe a eiseofar chuig cuideachta faoi fho-alt (9) ina fhianaise dhochloíte—
(a) gur comhlíonadh ceanglais an ailt seo maidir le hathchlárú agus le nithe roimh an athchlárú agus ag baint leis; agus
(b) gur cuideachta den fhoirm a luaitear sa deimhniú an chuideachta.
(12) Más rud é, tar éis scaireanna i gcuideachta—
(a) a bheith forghéillte de bhun airteagail na cuideachta nó a bheith tugtha suas don chuideachta in ionad an fhorghéillte nó a bheith faighte ar shlí eile ag an gcuideachta;
(b) a bheith faighte ag ainmnitheach na cuideachta sna himthosca a luaitear i bhfo-alt (1) (c); nó
(c) a bheith faighte ag aon duine sna himthosca a luaitear i bhfo-alt (1) (d),
go ndéanfar an chuideachta a athchlárú mar chuideachta phoiblí theoranta, beidh feidhm ag na forálacha sin roimhe seo den alt seo maidir leis an gcuideachta amhail is dá mba chuideachta phoiblí theoranta í tráth an fhorghéillte, an tabhartha suas nó na fála agus amhail is dá mbeadh tagairt don tréimhse iomchuí ó dháta athchlárúcháin na cuideachta mar chuideachta phoiblí theoranta curtha in ionad aon tagairt don tréimhse iomchuí ó dháta an fhorghéillte, an tabhartha suas nó na fála.
(13) Má fhaigheann cuideachta phoiblí theoranta nó ainmnitheach cuideachta poiblí teoranta scaireanna sa chuideachta nó leas sna scaireanna sin agus má thaispeántar na scaireanna sin nó an leas sin i gclár comhardaithe de chuid na cuideachta mar shócmhainn, déanfar méid is ionann agus luach na scaireanna nó, de réir mar a bheidh, an luach a fhaigheann an chuideachta as a leas sna scaireanna sin, a aistriú as brabúis atá ar fáil le haghaidh díbhinne chuig cúlchiste agus ní bheidh sé ar fáil lena dháileadh.
(14) San alt seo ciallaíonn “tréimhse iomchuí”, i ndáil le haon scaireanna—
(a) i gcás scaireanna a fhorghéillfear nó a thabharfar suas don chuideachta in ionad an fhorghéillte nó a gheofar amhail mar a luaitear i bhfo-alt (1) (b) nó (c), trí bliana;
(b) i gcás scaireanna a gheofar amhail mar a luaitear i bhfo-alt (1) (d), bliain amháin.
(15) D'ainneoin aon ní in alt 12(2), ní fholaíonn tagairt san alt seo do chuideachta phoiblí theoranta tagairt do sheanchuideachta phoiblí theoranta.
Muirir arna nglacadh ag cuideachtaí poiblí teoranta ar a scaireanna féin.
44.—(1) Is neamhní do lian nó muirear eile de chuid cuideachta poiblí teoranta ar a scaireanna féin (arna ghlacadh go sainráite nó ar shlí eile), seachas muirear a cheadaítear le fo-alt (2).
(2) Is muirir cheadaithe na muirir seo a leanas, is é sin le rá—
(a) i gcás gach tuairisc cuideachta, muirear ar a scaireanna féin (nach bhfuil láníoctha) in aghaidh aon mhéid is iníoctha maidir leis na scaireanna;
(b) i gcás cuideachta poiblí teoranta ar cuid dá gnáth-ghnó airgead a thabhairt ar iasacht, nó arb é atá sa ghnáth-ghnó sin, creidmheas a sholáthar nó earraí a earbadh nó a fhruiliú faoi chomhaontú fruilcheannaigh, nó iad araon, muirear ag an gcuideachta ar a scaireanna féin (bíodh siad láníoctha nó ná bíodh) a eascraíonn i ndáil le hidirbheart a rinne an chuideachta i ngnáthchúrsa a gnó;
(c) i gcás cuideachta (seachas cuideachta a bhfuil feidhm ag mír (d) i ndáil léi) atá athchláraithe nó atá cláraithe faoi alt 18 mar chuideachta phoiblí theoranta, muirear ar a scaireanna féin is muirear a bhí ar marthain díreach roimh a hiarratas ar athchlárú nó, de réir mar a bheidh, ar chlárú;
(d) i gcás aon chuideachta a fhanann nó a d'fhan ina seanchuideachta phoiblí theoranta tar éis deireadh na tréimhse athchlárúcháin agus nár iarr, roimh dheireadh na tréimhse sin, go ndéanfaí í a athchlárú faoi alt 12 mar chuideachta phoiblí theoranta, aon mhuirear ar a scaireanna féin is muirear a bhí ar marthain díreach roimh dheireadh na tréimhse sin.
CUID IV
Srianta le dáileadh brabús agus sócmhainní
Brabúis atá ar fáil lena ndáileadh.
45.—(1) Ní dhéanfaidh cuideachta dáileadh (mar a mhínítear le halt 51) ach amháin as brabúis atá ar fáil chun na críche sin.
(2) Chun críocha na Coda seo, ach faoi réir alt 47 (1), is éard iad brabúis chuideachta atá ar fáil lena ndáileadh, a brabúis réadaithe carntha, sa mhéid nár úsáideadh iad roimhe sin trí dháileadh nó trí chaipitliú, lúide a caillteanais réadaithe carntha, sa mhéid nár díscríobhadh iad roimhe sin in aon laghdú nó atheagrú a rinneadh go cuí ar chaipiteal.
(3) Ní bhainfidh cuideachta feidhm as brabús neamhréadaithe chun íoc as bintiúir nó aon mhéideanna atá gan íoc ar aon scair dá scaireanna eisithe.
(4) Chun críocha fho-ailt (2) agus (3) áireofar gur caillteanas réadaithe aon soláthar (de réir bhrí an Séú Sceideal a ghabhann leis an bPríomh-Acht) seachas soláthar maidir le haon laghdú ar luach sócmhainne doichte atá le tabhairt faoi deara ar athluacháil a dhéanamh ar na sócmhainní dochta go léir, nó ar na sócmhainní dochta go léir seachas cáilmheas, de chuid na cuideachta.
(5) Faoi réir alt 49(8), déanfar aon bhreithniú ag stiúrthóirí cuideachta ar an luach atá, aon tráth áirithe, ag aon sócmhainn dhocht de chuid na cuideachta a áireamh mar athluacháil ar an tsócmhainn sin chun a chinneadh an ndearnadh, an tráth sin, aon athluacháil den sórt sin ar shócmhainní dochta na cuideachta mar a cheanglaítear chun críocha na heisceachta ó fho-alt (4); ach i gcás ina ndéanfar aon sócmhainní den sórt sin nár athluacháladh iarbhír a áireamh mar shócmhainní a athluacháladh chun na gcríoch sin, de bhua an fho-ailt seo, ní bheidh feidhm ag an eisceacht sin ach amháin sa chás gur deimhin leis na stiúrthóirí nach lú a luach comhiomlán ag an tráth atá i gceist ná an méid comhiomlán atá á lua leo de thuras na huaire i gcuntais na cuideachta.
(6) Más rud é, ar shócmhainn dhocht a athluacháil, go dtaispeánfar go ndearnadh brabús neamhréadaithe agus go ndéanfar, tráth na hathluachála nó dá éis, suim a dhíscríobh nó a choinneáil in aghaidh dímheas na sócmhainne sin thar thréimhse, ansin, chun críocha fho-ailt (2) agus (3), áireofar gur brabús réadaithe a rinneadh thar an tréimhse sin, méid is ionann agus an méid ar mó an tsuim sin ná an tsuim a dhéanfaí a dhíscríobh nó a choinneáil in aghaidh dímheas na sóchmainne sin thar an tréimhse sin dá mba rud é nach ndearnadh an brabús sin.
(7) Mura bhfuil aon taifead ar fáil den chostas bunaidh a bhain le sócmhainn chuideachta (cibé acu a fuarthas í roimh an lá ceaptha, ar an lá sin nó dá éis) nó mura féidir aon taifead den sórt sin a fháil gan costas nó moill neamhréasúnach, ansin, chun a chinneadh an ndearna an chuideachta brabús nó caillteanas i leith na sócmhainne sin, is tuigthe gurb éard é costas na sócmhainne an luach a tugadh di sa taifead is luaithe dá luach atá ar fáil agus ar taifead é a rinneadh an tráth a fuair an chuideachta í nó tráth dá éis.
(8) Mura féidir le stiúrthóirí cuideachta a chinneadh, tar éis dóibh gach fiosrú réasúnach a dhéanamh, cibé acu is brabús réadaithe nó neamhréadaithe brabús áirithe a rinneadh roimh an lá ceaptha, féadfaidh siad an brabús a áireamh mar bhrabús réadaithe agus mura féidir leo a chinneadh, tar éis na fiosruithe sin a dhéanamh, cibé acu is caillteanas réadaithe nó neamhréadaithe caillteanas áirithe a rinneadh amhlaidh, féadfaidh siad an caillteanas a áireamh mar chaillteanas neamhréadaithe.
(9) San alt seo, folaíonn “sócmhainn dhocht” aon sócmhainn eile nach sócmhainn reatha.
Srian le dáileadh sócmhainní.
46.—(1) Faoi réir alt 47, ní fhéadfaidh cuideachta phoiblí theoranta dáileadh a dhéanamh tráth ar bith ach amháin mar a leanas—
(a) más rud é nach lú, an tráth sin, méid a glansócmhainní ná comhiomlán scairchaipiteal glaoite na cuideachta agus a cúlchistí neamhindáilte; agus
(b) más rud é nach ndéanfaidh, agus sa mhéid nach ndéanfaidh, an dáileadh méid na sócmhainní sin a laghdú go dtí méid is lú ná an comhiomlán sin.
(2) Chun críocha an ailt seo is éard iad cúlchistí neamhindáilte cuideachta poiblí teoranta—
(a) an cuntas scair-phréimhe;
(b) an cúlchiste fuascailte caipitil;
(c) an méid ar mó brabúis neamhréadaithe carntha na cuideachta, sa mhéid nár usáideadh iad roimhe sin trí aon chaipitliú, ná a caillteanais neamhréadaithe carntha, sa mhéid nár díscríobhadh iad roimhe sin in aon laghdú nó atheagrú a rinneadh go cuí ar chaipiteal; agus
(d) aon chúlchiste eile a dtoirmisctear ar an gcuideachta é a dháileadh le haon achtachán, seachas achtachán sa Chuid seo, nó lena meabhrán nó lena hairteagail.
(3) Beidh feidhm ag fo-ailt (4) go (8) d'alt 45 chun críocha an ailt seo amhail mar atá feidhm acu chun críocha an ailt sin.
(4) Ní dhéanfaidh cuideachta phoiblí theoranta aon scairchaipiteal neamhghlaoite a áireamh mar shócmhainn in aon chuntas is iomchuí chun críocha an ailt seo.
Dáiltí eile ag cuideachtaí infheistíochta.
47.—(1) Faoi réir na bhforálacha seo a leanas den alt seo, féadfaidh cuideachta infheistíochta dáileadh a dhéanamh freisin tráth ar bith as a brabúis ioncaim réadaithe carntha, sa mhéid nár úsáideadh iad roimhe sin trí dháileadh nó trí chaipitliú, lúide a caillteanais ioncaim carntha (cibé acu reádaithe nó neamhréadaithe), sa mhéid nár díscríobhadh iad roimhe sin in aon laghdú nó atheagrú a rinneadh go cuí ar chaipiteal—
(a) más rud é gurb ionann, an tráth sin, méid a sócmhainní agus oiread go leith ar a laghad de chomhiomlán a dliteanas; agus
(b) más rud é nach ndéanfaidh, agus sa mhéid nach ndéanfaidh, an dáileadh an méid sin a laghdú go dtí méid is lú ná oiread go leith den chomhiomlán sin.
(2) I bhfo-alt (1) folaíonn “dliteanais” aon soláthar (de réir bhrí an Séú Sceideal a ghabhann leis an bPríomh-Acht) ach amháin sa mhéid go gcuirtear an soláthar sin i gcuntas chun críocha an fho-ailt sin chun luach aon sócmhainne de chuid na cuideachta i gceist a ríomh, agus beidh feidhm ag fo-alt (4) d'alt 46 chun na gcríoch sin amhail mar atá feidhm aige chun críocha an ailt sin.
(3) Sa Chuid seo ciallaíonn “cuideachta infheistíochta” cuideachta phoiblí theoranta atá tar éis fógra i scríbhinn (nach bhfuil cúlghairthe) a thabhairt don chláraitheoir á rá go bhfuil ar intinn aici gnó a dhéanamh mar chuideachta infheistíochta (an “fógra atá ag teastáil”) agus a rinne, ó dháta an fhógra sin, na ceanglais atá leagtha amach i bhfo-alt (4) a chomhlíonadh.
(4) Is iad seo a leanas na ceanglais dá dtagraítear i bhfo-alt (3)—
(a) gurb é atá i ngnó na cuideachta a cistí a infheistiú go príomha in urrúis, d'fhonn fiontar infheistíochta a leathadh agus tairbhe na dtorthaí ón mbainistí ar a cistí a thabhairt do chomhaltaí na cuideachta;
(b) nach bhfreagraíonn aon sealúchas de shealúchais na cuideachta i gcuideachtaí seachas cuideachtaí is cuideachtaí infheistíochta de thuras na huaire do riar is mó ná 15 faoin gcéad de réir luacha d'infheistíocht na cuideachta infheistiúcháin;
(c) go bhfuil dáileadh ar bhrabúis chaipitiúla na cuideachta toirmiscthe lena meabhrán comhlachais nó a hairteagail chomhlachais;
(d) nach ndearna an chuideachta, ach amháin i gcomhlíonadh na Coda seo, riar is mó ná 15 faoin gcéad den ioncam a fhaigheann sí ó urrúis a choinneáil i leith aon bhliana airgeadais.
(5) Ní fhéadfaidh cuideachta infheistíochta dáileadh a dhéanamh de bhua fho-alt (1) mura mbeidh a scaireanna liostaithe ar stocmhargadh aitheanta agus, i gcaitheamh na tréimhse dar tosach an chéad lá den bhliain airgeadais díreach roimh an mbliain airgeadais ina mbeidh an dáileadh atá beartaithe le déanamh nó, i gcás é bheith beartaithe an dáileadh a dhéanamh le linn chéad bhliain airgeadais na cuideachta, an chéad lá den bhliain airgeadais sin, agus dar críoch dáta an dáilte (cibé acu is roimh an lá ceaptha nó nach ea d'aon chuid de na blianta airgeadais sin), nach ndearna sí—
(a) dáileadh ar aon bhrabúis dá brabúis chaipitiúla; ná
(b) feidhm a bhaint as aon bhrabúis neamhréadaithe ná as aon bhrabúis chaipitiúla (réadaithe nó neamhréadaithe) chun íoc as bintiúir nó aon mhéideanna a bhí gan íoc ar aon scair dá scaireanna eisithe.
(6) Ní fhéadfaidh cuideachta infheistíochta dáileadh a dhéanamh de bhua fho-alt (1) mura mbeidh an fógra atá ag teastáil tugtha ag an gcuideachta—
(a) roimh thosach na tréimhse iomchuí dá dtagraítear i bhfo-alt (5); nó
(b) i gcás inar roimh an lá ceaptha a thosaigh an tréimhse sin, a luaithe is féidir le réasún tar éis an lae cheaptha; nó
(c) i gcás inarbh ar an lá ceaptha nó aon lá dá éis a corpraíodh an chuideachta, a luaithe is féidir le réasún tar éis dáta a corpraithe.
(7) Féadfaidh cuideachta fógra uaithi chun an chláraitheora faoi fho-alt (3) a chúlghairm tráth ar bith trí fhógra a thabhairt don chláraitheoir nach mian léi a thuilleadh a bheith ina cuideachta infheistíochta de réir bhrí an ailt seo agus, ar an bhfógra sin a thabhairt, scoirfidh an chuideachta de bheith ina cuideachta infheistíochta den sórt sin.
(8) Nuair a bheidh brabúis agus caillteanais chaipitiúla agus ioncaim á gcinneadh chun críocha an ailt seo, déanfar sócmhainn nach sócmhainn dhocht ná sócmhainn reatha a áireamh mar shócmhainn dhocht.
(9) Cuirfidh cuideachta infheistíochta an abairt “cuideachta infheistíochta” ar a litreacha agus a foirmeacha ordaithe.
(10) Má mhainníonn cuideachta fo-alt (9) a chomhlíonadh, beidh an chuideachta agus gach oifigeach don chuideachta a rinne mainneachtain ciontach i gcion agus dlífear, ar iad a chiontú go hachomair, fíneáil nach mó ná £250 a chur orthu.
(11) Féadfaidh cláraitheoir na gcuideachtaí imeachtaí i ndáil le cion faoin alt seo a thionscnamh agus a thabhairt ar aghaidh.
(12) Chun críocha mhír (b) d'fho-alt (4)—
(a) ciallaíonn “sealúchas” na scaireanna nó na hurrúis (cibé acu de chineál amháin nó de bhreis is cineál amháin) atá á sealbhú in aon chuideachta áirithe;
(b) áireofar gur sealúchais in aon chuideachta amháin sealúchais i gcuideachtaí is comhaltaí de ghrúpa (cibé acu a áirítear an chuideachta infheistiúcháin sa ghrúpa nó nach n-áirítear) agus nach bhfuil eisiata ón mír sin (b);
(c) más comhalta de ghrúpa an chuideachta infheistiúcháin áireofar aon airgead a dhlífidh comhalta eile den ghrúpa a íoc léi mar urrús de chuid an chomhalta eile sin atá á shealbhú ag an gcuideachta infheistiúcháin agus, dá réir sin, áireofar é mar shealúchas, nó mar chuid de shealúchas, na cuideachta infheistiúcháin sa chuideachta a dhlíonn an t-airgead a íoc,
agus chun críocha an fho-ailt seo ciallaíonn “grúpa” cuideachta agus na cuideachtaí go léir is fochuideachtaí don chuideachta sin de réir bhrí alt 155 den Phríomh-Acht.
Brabúis réadaithe cuideachtaí árachais.
48.—(1) I gcás cuideachta árachais a bhíonn ag gabháil do ghnó árachais saoil, nó do ghnó árachais tionscail, nó dóibh araon, déanfar aon mhéid a aistríodh go cuí go dtí cuntas sochair agus dochair na cuideachta ó bharrachas sa chiste nó sna cistí atá á chothabháil nó á gcothabháil aici i leith an ghnó sin agus aon easnamh sa chiste nó sna cistí sin a áireamh, faoi seach, chun críocha na Coda seo mar bhrabús réadaithe agus mar chaillteanas réadaithe agus, faoi réir a bhfuil ansin roimhe seo, fágfar as an gcuntas, chun na gcríoch sin, aon bhrabús nó caillteanas a eascraíonn as an gciste nó as na cistí atá á chothabháil nó á gcothabháil aici i leith an ghnó sin.
(2) I bhfo-alt (1)—
(a) an tagairt do bharrachas in aon chiste nó cistí de chuid cuideachta árachais is tagairt í d'anbharr na sócmhainní atá ag freagairt don chiste sin nó do na cistí sin ar dhliteanais na cuideachta is inchurtha i leith a gnó árachais saoil nó a gnó árachais tionscail, mar a thaispeántar sin trí imscrúdú achtúireach; agus
(b) an tagairt d'easnamh in aon chiste nó in aon chistí den sórt sin is tagairt í d'anbharr na ndliteanas sin ar na sócmhainní sin mar a thaispeántar sin amhlaidh.
(3) San alt seo—
ciallaíonn “imscrúdú achtúireach” imscrúdú lena mbaineann alt 5 den Assurance Companies Act, 1909;
tá le “gnó árachais saoil” agus le “gnó árachais tionscail” na bríonna céanna atá leo in alt 3 den Acht Árachais, 1936.
Na cuntais iomchuí.
49.—(1) Faoi réir na bhforálacha seo a leanas den alt seo, is faoi threoir na n-ítimí iomchuí mar a bheidh luaite sna cuntais iomchuí a chinnfear an cheist cibé acu a fhéadfaidh nó nach bhféadfaidh cuideachta dáileadh a dhéanamh gan alt 45, 46 nó 47 (an t-alt iomchuí) a shárú agus cad is méid d'aon dáileadh a fhéadfar a dhéanamh amhlaidh, agus áireofar an t-alt iomchuí a bheith sáraithe i gcás dáileadh mura ndéanfar ceanglais an ailt seo i dtaobh na gcuntas sin a chomhlíonadh i gcás an dáilte sin.
(2) Is éard iad na cuntais iomchuí d'aon chuideachta i gcás aon dáileadh áirithe—
(a) ach amháin i gcás atá faoi réim mhír (b) nó (c), na cuntais bhliantúla dheireanacha, is é sin le rá, na cuntais a ullmhaíodh de réir cheanglais an Phríomh-Achta agus a cuireadh faoi bhráid chruinniú ginearálta bliantúil na cuideachta i leith na bliana airgeadais is deireanaí roimhe sin ar cuireadh cuntais a ullmhaíodh amhlaidh faoi bhráid chruinniú ginearálta bliantúil na cuideachta ina leith;
(b) i gcás go bhfaighfí amach go sáródh an dáileadh sin an t-alt iomchuí mura ndéanfaí ach tagairt do na cuntais bhliantúla dheireanacha, cibé cuntais (cuntais idirlinne) is gá le go bhféadfar breith réasúnach a thabhairt maidir le méideanna aon ítim de na hítimí iomchuí;
(c) má tá sé beartaithe an dáileadh sin a dhearbhú le linn chéad bhliain airgeadais na cuideachta nó sula gcuirfear aon chuntais faoi bhráid chruinniú ginearálta bliantúil na cuideachta i leith na bliana airgeadais sin, cibé cuntais (cuntais tosaigh) is gá mar atá ráite anseo roimhe seo.
(3) Tá feidhm ag na ceanglais seo a leanas i gcás nach bhfuil de chuntais iomchuí ann i gcás dáileadh ach na cuntais bhliantúla dheireanacha de chuid cuideachta, is é sin le rá—
(a) ní foláir na cuntais sin a bheith ullmhaithe go cuí nó a bheith ullmhaithe amhlaidh ach amháin i gcás nithe nach bhfuil ábhartha chun a chinneadh, faoi threoir na n-ítimí iomchuí de réir mar a bheidh siad luaite sna cuntais sin, an sáródh an dáileadh sin an t-alt iomchuí;
(b) ní foláir tuarascáil a bheith tugtha ag iniúchóirí na cuideachta faoi alt 163 den Phríomh-Acht i leith na gcuntas sin;
(c) más rud é, de bhua aon ní dá dtagraítear sa tuarascáil sin, nach tuarascáil gan agús an tuarascáil, ní foláir do na hiniúchóirí é bheith ráite i scríbhinn acu freisin (an tráth a tugadh an tuarascáil nó tráth dá éis) an bhfuil, dar leo, an ní sin ábhartha chun a chinneadh, faoi threoir na n-ítimí iomchuí de réir mar a bheidh siad luaite sna cuntais sin, an sáródh an dáileadh sin an t-alt iomchuí; agus
(d) ní foláir cóip d'aon ráiteas den sórt sin a bheith curtha faoi bhráid na cuideachta i gcruinniú ginearálta.
(4) Is leor ráiteas faoi fho-alt (3) (c) chun na gcríocha a bhaineann le dáileadh áirithe ní hamháin má bhaineann sé le dáileadh atá beartaithe ach freisin má bhaineann sé le dáiltí d'aon tuairisc ar a n-áirítear an dáileadh áirithe sin, d'ainneoin nach raibh sé sin beartaithe tráth an ráitis.
(5) Tá feidhm ag na ceanglais seo a leanas maidir le cuntais idirlinne a d'ullmhaigh cuideachta phoiblí theoranta do dháileadh atá beartaithe, is é sin le rá—
(a) ní foláir na cuntais sin a bheith ullmhaithe go cuí nó a bheith ullmhaithe amhlaidh ach amháin i gcás nithe nach bhfuil ábhartha chun a chinneadh, faoi threoir na n-ítimí iomchuí de réir mar a bheidh siad luaite sna cuntais sin, an sáródh an dáileadh sin an t-alt iomchuí;
(b) ní foláir cóip de na cuntais sin a bheith seachadta ar chláraitheoir na gcuideachtaí;
(c) i gcás gur i dteanga eile seachas Béarla nó Gaeilge a bheidh na cuntais sin, ní foláir tiontú go Béarla nó go Gaeilge ar na cuntais, agus é deimhnithe ar an modh forordaithe gur tiontú ceart é, a bheith seachadta freisin ar an gcláraitheoir.
(6) Tá feidhm ag na ceanglais seo a leanas maidir le cuntais tosaigh a d'ullmhaigh cuideachta phoiblí theoranta do dháileadh beartaithe, is é sin le rá—
(a) ní foláir na cuntais sin a bheith ullmhaithe go cuí nó a bheith ullmhaithe amhlaidh ach amháin i gcás nithe nach bhfuil ábhartha chun a chinneadh, faoi threoir na n-ítimí iomchuí de réir mar a bheidh siad luaite sna cuntais sin, an sáródh an dáileadh sin an t-alt iomchuí;
(b) ní foláir tuarascáil a bheith tugtha ag iniúchóirí na cuideachta á rá an ndearnadh na cuntais a ullmhú go cuí dar leo;
(c) más rud é, de bhua aon ní dá dtagraítear sa tuarascáil sin, nach tuarascáil gan agús an tuarascáil, ní foláir do na hiniúchóirí é bheith ráite i scríbhinn acu freisin an bhfuil, dar leo, an ní sin ábhartha chun a chinneadh, faoi threoir na n-ítimí iomchuí de réir mar a bheidh siad luaite sna cuntais sin, an sáródh an dáileadh sin an t-alt iomchuí; agus
(d) ní foláir cóip de na cuntais sin, cóip den tuarascáil a bheidh tugtha faoi mhír (b) agus cóip d'aon ráiteas den sórt sin, a bheith seachadta ar chláraitheoir na gcuideachtaí; agus
(e) i gcás gur i dteanga seachas Béarla nó Gaeilge a bheidh na cuntais, an tuarascáil nó an ráiteas sin, ní foláir tiontú go Béarla nó go Gaeilge ar na cuntais, ar an tuarascáil nó ar an ráiteas, de réir mar a bheidh, agus é deimhnithe ar an modh forordaithe gur tiontú ceart é, a bheith seachadta freisin ar an gcláraitheoir.
(7) D'fhonn a chinneadh faoi threoir chuntais áirithe, an bhféadfaidh cuideachta dáileadh beartaithe a dhéanamh, beidh éifeacht leis an alt seo, in aon chás ina mbeidh dáileadh amháin nó níos mó déanta cheana féin de bhun cinntí a rinneadh faoi threoir na gcuntas céanna sin, amhail is dá ndéanfaí an dáileadh beartaithe a mhéadú de mhéid na ndáiltí a bheidh déanta amhlaidh.
(8) Má bhíonn feidhm ag fo-alt (3) (a), (5) (a) nó (6) (a) maidir leis na cuntais iomchuí, ní bheidh feidhm ag alt 45 (5) chun a chinneadh an ndearnadh aon athluacháil ar shócmhainní dochta na cuideachta ba dhifear do mhéid na n-ítimí iomchuí de réir mar a bheidh siad luaite sna cuntais sin, mura mbeidh ráite i nóta a ghabhann leis na cuntais sin—
(a) gur bhreithnigh na stiúrthóirí an luach a bhí, aon tráth áirithe, ag aon sócmhainní dochta de chuid na cuideachta gan na sócmhainní sin a athluacháil iarbhír;
(b) gur deimhin leo nach lú nó nár lú luach comhiomlán na sócmhainní sin ag an tráth áirithe i gceist ná an méid comhiomlán atá, nó a bhí, á lua leo de thuras na huaire i gcuntais na cuideachta; agus
(c) go bhfuil na hítimí iomchuí dá ndearnadh difear luaite dá réir sin sna cuntais iomchuí ar an mbonn go ndearnadh, an tráth áirithe sin, athluacháil ar shócmhainní dochta na cuideachta a raibh, de bhua alt 45 (5), na sócmhainní i gceist ar áireamh iontu.
(9) San alt seo—
ciallaíonn “ullmhaithe go cuí”, i ndáil le haon chuntais de chuid cuideachta, gur comhlíonadh na coinníollacha seo a leanas i ndáil leis na cuntais sin, is é sin le rá—
(a) i gcás cuntais bhliantúla, go ndearnadh iad a ullmhú go cuí de réir fhorálacha an Phríomh-Achta;
(b) i gcás cuntais idirlinne nó cuntais tosaigh, go gcomhlíonann siad ceanglais alt 149 den Phríomh-Acht agus go bhfuil aon chlár comhardaithe a áirítear sna cuntais sin sínithe de réir alt 156 den Phríomh-Acht; agus
(c) i gceachtar cás, agus gan dochar dá bhfuil anseo roimhe seo, gurb amhlaidh, ach amháin i gcás ina bhfuil an chuideachta i dteideal leas a bhaint as, agus go bhfuil leas bainte aici as, aon fhoráil d'fhorálacha Chuid III den Séú Sceideal a ghabhann leis an bPríomh-Acht—
(i) go dtugann cibé riar de na cuntais is clár comhardaithe, léargas fíorcheart ar staid chúrsaí na cuideachta amhail ar dháta an chláir chomhardaithe; agus
(ii) go dtugann cibé riar de na cuntais sin is cuntas sochair agus dochair, léargas fíorcheart ar bhrabús nó ar chaillteanas na cuideachta don tréimhse dár ullmhaíodh na cuntais;
ciallaíonn “ítim iomchuí” aon ítim acu seo a leanas, is é sin le rá, brabúis, caillteanais, sócmhainní, dliteanais, soláthairtí (de réir bhrí an Séú Sceideal a ghabhann leis an bPríomh-Acht), scairchaipiteal agus cúlchistí;
folaíonn “cúlchistí” cúlchistí neamhindáilte de réir bhrí alt 46 (2);
ciallaíonn “tuarascáil gan agús” i ndáil le haon chuntais de chuid cuideachta, tuarascáil, gan agús, á rá go bhfuil na cuntais ullmhaithe go cuí dar leis an duine atá ag tabhairt na tuarascála;
agus chun críocha an ailt seo, tá cuntais curtha faoi bhráid chruinniú ginearálta bliantúil na cuideachta má bhíonn alt 148 den Phríomh-Acht comhlíonta i ndáil leis na cuntais sin.
(10) Chun críche mhír (b) den mhíniú ar “ullmhaithe go cuí” i bhfo-alt (9), measfar éifeacht a bheith le halt 149 den Phríomh-Acht, agus leis an Séú Sceideal a ghabhann leis an Acht sin, i ndáil le cuntais idirlinne agus cuntais tosaigh fara cibé modhnuithe is gá mar gheall air go n-ullmhaítear na cuntais i leith tréimhse seachas i leith bliana airgeadais.
Iarmhairtí a leanfaidh as dáileadh neamhdhleathach a dhéanamh.
50.—(1) Más rud é, i gcás dáileadh nó cuid de dháileadh a dhéanfaidh cuideachta chuig comhalta dá cuid, go ndéanfar an dáileadh de shárú ar fhorálacha na Coda seo agus gurb eol don chomhalta, nó go bhfuil údar réasúnach aige chun a chreidiúint, tráth an dáilte, go bhfuil sin á dhéanamh amhlaidh, dlífidh sé an dáileadh nó an chuid sin den dáileadh, de réir mar a bheidh, a aisíoc leis an gcuideachta nó (i gcás dáileadh a dhéanfar ar shlí seachas in airgead) dlífidh sé suim is ionann agus luach an dáilte nó na coda ag an tráth sin a íoc leis an gcuideachta.
(2) Ní dochar forálacha an ailt seo d'aon oibleagáid a fhorchuirtear ar leith ón alt seo ar chomhalta de chuideachta chun dáileadh a rinneadh chuige go neamhdhleathach a aisíoc.
Forálacha foghabhálacha.
51.—(1) Más rud é, díreach roimh an lá ceaptha, go n-údarófar do chuideachta le haon fhoráil dá hairteagail feidhm a bhaint as a brabúis neamhréadaithe chun íoc go hiomlán nó go páirteach as scaireanna neamheisithe atá le leithroinnt ar chomhaltaí na cuideachta mar scaireanna bónais láníoctha nó páirt-íoctha, leanfar, faoi réir aon athrú iardain ar na hairteagail, ag forléiriú na forála sin mar fhoráil a údaraíonn feidhm a bhaint amhlaidh as na brabúis sin tar éis an lae cheaptha.
(2) Sa Chuid seo ciallaíonn “dáileadh” dáileadh de gach tuairisc ar shócmhainní cuideachta chuig comhaltaí na cuideachta, in airgead nó ar shlí eile, ach amháin dáiltí a dhéantar mar a leanas—
(a) scaireanna a eisiúint mar scaireanna bónais láníoctha nó páirt-íoctha;
(b) scaireanna tosaíochta a fhuascailt amach as na fáltais ó eisiúint nua scaireanna a dhéanfar chun críocha na fuascailte sin agus aon phréimh ar a bhfuascailt a íoc amach as cuntas scair-phréimhe na cuideachta;
(c) scairchaipiteal a laghdú trí mhúchadh nó laghdú a dhéanamh ar dhliteanas aon chomhalta i leith aon scaireanna dá cuid maidir le scairchaipiteal nár íocadh nó trí scairchaipiteal íoctha a eisíoc; agus
(d) sócmhainní a dháileadh chuig comhaltaí na cuideachta tráth a foirceanta.
(3) Sa Chuid seo ciallaíonn “caipitliú” i ndáil le haon bhrabúis de chuid cuideachta, aon cheann de na hoibríochtaí seo a leanas, cibé acu a dhéanfar iad roimh an lá ceaptha, ar an lá ceaptha nó aon lá dá éis, is é sin le rá, feidhm a bhaint as na brabúis chun íoc go hiomlán nó go páirteach as scaireanna neamheisithe sa chuideachta atá le leithroinnt ar chomhaltaí na cuideachta mar scaireanna bónais láníoctha nó páirt-íoctha nó na brabúis a aistriú go dtí an cúlchiste fuascailte caipitil.
(4) Aon tagairt sa Chuid seo do bhrabúis agus do chaillteanais d'aon tuairisc is tagairtí iad, faoi seach, do bhrabúis agus do chaillteanais den tuairisc sin a dhéanfar tráth ar bith, roimh an lá ceaptha, ar an lá ceaptha nó aon lá dá éis agus, ach amháin mar a n-éilíonn an comhthéacs a mhalairt, is tagairtí, faoi seach, iad do bhrabúis ioncaim agus caipitil agus do chaillteanais ioncaim agus caipitil.
(5) Ní dochar forálacha na Coda seo d'aon achtachán ná riail dlí ná d'aon fhoráil i meabhrán cuideachta nó airteagail chuideachta lena srianaítear na suimeanna as a bhféadfar, nó na cásanna ina bhféadfar, dáileadh a dhéanamh.
(6) Ní bheidh feidhm ag forálacha na Coda seo maidir le haon dáileadh a dhéanfaidh cuideachta, seachas cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair, roimh an dáta a dtarlóidh an teagmhas is túisce de na teagmhais seo a leanas, is é sin le rá, athchlárú nó clárú na cuideachta mar chuideachta phoiblí theoranta agus deireadh na tréimhse eatramhaí ginearálta.
CUID V
Athrú ar stádas cuideachtaí áirithe
Cuideachta theoranta a athchlárú mar chuideachta neamhtheoranta.
52.—(1) Cuideachta atá cláraithe ar an lá ceaptha mar chuideachta theoranta nó a chlárófar amhlaidh dá éis sin (seachas de bhun alt 53), féadfar í a athchlárú faoin bPríomh-Acht mar chuideachta neamhtheo ranta de bhun iarratais chuige sin a chomhlíonann ceanglais fho-alt (2) agus ar iarratas é a bheidh déanta san fhoirm fhorordaithe agus a bheidh sínithe ag stiúrthóir nó ag rúnaí na cuideachta agus a sheachadfar ar an gcláraitheoir mar aon leis na doiciméid a luaitear i bhfo-alt (3).
(2) Is iad na ceanglais dá dtagraítear i bhfo-alt (1) nach foláir don iarratas—
(a) cibé athruithe a leagan amach i meabhrán na cuideachta—
(i) má tá scairchaipiteal le bheith aici, a bheidh ag teastáil lena chur, ó thaobh substainte agus foirme, i gcomhréir leis na ceanglais a fhorchuirtear leis an bPríomh-Acht maidir leis an meabhrán do chuideachta atá le foirmiú faoin Acht sin mar chuideachta neamhtheoranta a bhfuil scairchaipiteal aici; nó
(ii) mura bhfuil scairchaipiteal le bheith aici, a bheidh ag teastáil sna himthosca; agus
(b) má tá airteagail cláraithe, cibé athruithe iontu agus cibé breisithe leo, a leagan amach—
(i) má tá scairchaipiteal le bheith aici, a bheidh ag teastáil lena chur, ó thaobh substainte agus foirme, i gcomhréir leis na ceanglais a fhorchuirtear leis an bPríomh-Acht maidir leis na hairteagail do chuideachta atá le foirmiú faoin Acht sin mar chuideachta neamhtheoranta a bhfuil scairchaipiteal aici; nó
(ii) mura bhfuil scairchaipiteal le bheith aici, a bheidh ag teastáil sna himthosca; agus
(c) mura bhfuil airteagail cláraithe—
(i) airteagail chlóite ar a mbeidh an stampa céanna a bheadh orthu dá mba i ngníomhas a bheidís, a bheith i gceangal leis an iarratas agus a iarraidh go ndéanfaí na hairteagail sin a chlárú, ar airteagail iad a dhéanann, má tá scairchaipiteal le bheith ag an gcuideachta, na ceanglais sin a chomhlíonadh; nó
(ii) i gcás nach bhfuil scairchaipiteal le bheith aici, airteagail is iomchuí do na himthosca a bheith i gceangal leis an iarratas.
(3) Is iad na doiciméid dá dtagraítear i bhfo-alt (1)—
(a) an fhoirm thoilithe fhorordaíthe ag toiliú leis an gcuideachta a chlárú mar chuideachta neamhtheoranta agus í sínithe ag comhaltaí uile na cuideachta nó sínithe thar a gceann;
(b) dearbhú reachtúil arna thabhairt ag stiúrthóirí na cuideachta á rá gurb iad na daoine a bhfuil an fhoirm thoilithe sínithe acu nó sínithe thar a gceann comhaltas iomlán na cuideachta agus, i gcás nach mbeidh an fhoirm sin sínithe ag aon duine de na comhaltaí féin, á rá go bhfuil gach beart réasúnach déanta ag na stiúrthóirí chun a dheimhniú dóibh go raibh cumhacht faoin dlí chuige sin ag gach duine a shínigh í thar ceann comhalta;
(c) cóip chlóite den mheabhrán ina mbeidh na hathruithe a bheidh leagtha amach san iarratas; agus
(d) má tá airteagail cláraithe, cóip chlóite de na hairteagail sin ina mbeidh na hathruithe orthu agus na breisithe leo a bheidh leagtha amach san iarratas.
(4) Coinneoidh an cláraitheoir an t-iarratas agus na doiciméid eile a seachadadh air faoi fho-alt (1) agus, i gcás airteagail a bheith i gceangal leis an iarratas, déanfaidh sé iad a chlárú agus eiseoidh sé chuig an gcuideachta deimhniú corpraithe is iomchuí don stádas atá le glacadh ag an gcuideachta de bhua an ailt seo, agus ar an deimhniú a eisiúint—
(a) déanfar, de bhua na heisiúna, stádas na cuideachta a athrú ó theoranta go neamhtheoranta; agus
(b) na hathruithe sa mheabhrán a bheidh leagtha amach san iarratas agus (i gcás airteagail a bheith cláraithe roimhe sin) aon athruithe ar na hairteagail, agus aon bhreisithe leis na hairteagail, a bheidh leagtha amach amhlaidh, tiocfaidh siad in éifeacht, d'ainneoin aon ní sa Phríomh-Acht, ionann is dá mbeidís déanta go cuí le rún ón gcuideachta agus beidh feidhm dá réir sin ag forálacha an Phríomh-Achta maidir leis an meabhrán agus leis na hairteagail amhail mar a athraíodh iad nó a cuireadh breisiú leo de bhua an ailt seo.
(5) Beidh deimhniú corpraithe a eiseofar de bhua an ailt seo ina fhianaise dhochloíte gur comhlíonadh ceanglais an ailt seo maidir le hathchlárú agus le nithe roimh an athchlárú agus ag baint leis agus gur údaraíodh an chuideachta a athchlárú faoin bPríomh-Acht de bhun an ailt seo agus go ndearnadh í a athchlárú go cuí amhlaidh.
(6) Má athchláraítear cuideachta de bhun an ailt seo, duine a bhí, an tráth ar seachadadh an t-iarratas chun í a athchlárú ar an gcláraitheoir, ina iarchomhalta den chuideachta agus nach raibh ina dhiaidh sin ina chomhalta di, ní dhlífidh sé, má dhéantar an chuideachta sin a fhoirceannadh, níos mó a ranníoc i leith sócmhainní na cuideachta ná mar a dhlífeadh sé a ranníoc leo i gcás nach mbeadh an chuideachta athchláraithe amhlaidh.
(7) Ní dhéanfaidh athchlárú ar chuideachta theoranta mar chuideachta neamhtheoranta de bhun an Achta seo difear d'aon chearta ná oibleagáidí de chuid na cuideachta, ná ní fhágfaidh sé go mbeidh aon imeachtaí dlí ag an gcuideachta nó ina coinne lochtach, agus aon imeachtaí dlí a bhféadfaí leanúint díobh nó iad a thionscnamh ina coinne faoina seanstádas féadfar leanúint díobh nó iad a thionscnamh ina coinne faoina stádas nua.
(8) Chun críocha an ailt seo—
(a) aon síniú le foirm thoilithe ag ionadaí pearsanta dlíthiúil do chomhalta éagtha de chuid cuideachta, measfar gur síniú ag an gcomhalta éagtha é;
(b) measfar iontaobhaí i bhféimheacht do dhuine is comhalta de chuideachta a bheith, d'eisiamh an duine sin, ina chomhalta den chuideachta.
Cuideachta neamhtheoranta a athchlárú mar chuideachta theoranta.
53.—(1) Cuideachta atá cláraithe ar an lá ceaptha mar chuideachta neamhtheoranta nó a chlárófar amhlaidh dá éis sin (seachas de bhua alt 52) féadfar í a athchlárú faoin bPríomh-Acht mar chuideachta theoranta má ritear rún speisialta go ndéanfaí í a athchlárú amhlaidh (agus ceanglais fho-alt (2) a chomhlíonadh) agus má dhéantar iarratas chuige sin, agus é san fhoirm fhorordaithe agus sínithe ag stiúrthóir nó ag rúnaí na cuideachta, a sheachadadh ar an gcláraitheoir, mar aon leis na doiciméid a luaitear i bhfo-alt (3), tráth nach luaithe ná an lá ar a bhfaighidh sé cóip den rún a cuireadh chuige de bhun alt 143 den Phríomh-Acht.
(2) Is iad na ceanglais sin nach foláir don rún a rá cibé acu atá an chuideachta le bheith faoi theorainn scaireanna nó faoi theorainn ráthaíochta, agus—
(a) má tá sí le bheith faoi theorainn scaireanna, nach foláir dó a rá cad a bheidh sa scairchaipiteal agus a shocrú go ndéanfar cibé athruithe is gá sa mheabhrán lena chur, ó thaobh substainte agus foirme, i gcomhréir le ceanglais Achtanna na gCuideachtaí maidir le meabhrán cuideachta atá faoi theorainn amhlaidh, agus go ndéanfar cibé athruithe a bheidh ag teastáil sna himthosca ar na hairteagail;
(b) má tá sí le bheith faoi theorainn ráthaíochta, nach foláir dó a shocrú go ndéanfar cibé athruithe is gá sa mheabhrán agus sna hairteagail lena gcur, ó thaobh substainte agus foirme, i gcomhréir le ceanglais an Phríomh-Achta maidir le meabhrán agus airteagail chuideachta atá faoi theorainn amhlaidh.
(3) Is iad na doiciméid dá dtagraítear i bhfo-alt (1) cóip chlóite den mheabhrán de réir mar a athraíodh é de bhun an rúin agus cóip chlóite de na hairteagail de réir mar a athraíodh iad amhlaidh.
(4) Coinneoidh an cláraitheoir an t-iarratas agus na doiciméid eile a seachadadh air faoi fho-alt (1) agus eiseoidh sé chuig an gcuideachta deimhniú corpraithe is iomchuí don stádas atá le glacadh ag an gcuideachta de bhua an ailt seo; agus ar an deimhniú a eisiúint—
(a) déanfar, de bhua na heisiúna, stádas na cuideachta a athrú ó neamhtheoranta go teoranta; agus
(b) tiocfaidh na hathruithe sa mheabhrán a bheidh sonraithe sa rún agus na hathruithe sna hairteagail, agus na breisithe leis na hairteagail, a bheidh sonraithe amhlaidh in éifeacht, d'ainneoin aon ní sa Phríomh-Acht.
(5) Beidh deimhniú corpraithe a eiseofar de bhua an ailt seo ina fhianaise dhochloíte gur comhlíonadh ceanglais an ailt seo maidir le hathchlárú agus le nithe roimh an athchlárú agus ag baint leis, agus gur údaraíodh an chuideachta a athchlárú faoin bPríomh-Acht de bhun an ailt seo agus go ndearnadh í a athchlárú go cuí amhlaidh.
(6) Beidh éifeacht le halt 71 den Phríomh-Acht amhail is dá gcuirfí tagairt dá rún go ndéanfaí í a chlárú mar chuideachta theoranta de bhun an Achta sin nó go ndéanfaí í a athchlárú mar chuideachta theoranta de bhun an ailt seo in ionad na tagartha dá rún go ndéanfaí í a chlárú mar chuideachta theoranta de bhun an Achta sin.
(7) I gcás cuideachta a athchláraíodh de bhun an ailt seo a bheith á foirceannadh, beidh éifeacht leis na forálacha seo a leanas—
(a) d'ainneoin mhír (a) d'fho-alt (1) d'alt 207 den Phríomh-Acht, aon iarchomhalta den chuideachta ar comhalta di é tráth an athchláraithe, dlífidh sé, má thosaíonn an foirceannadh sa tréimhse trí bliana dar tosach an lá a athchlárófar an chuideachta, ranníoc a dhéanamh i leith sócmhainní na cuideachta i ndáil leis na fiacha agus na dliteanais faoina ndeachaigh an chuideachta roimh an tráth sin;
(b) i gcás nach comhaltaí láithreacha den chuideachta aon daoine a bhí ina gcomhaltaí den chuideachta an tráth sin, aon duine a bhí, an tráth sin, ina chomhalta láithreach nó ina iarchomhalta di, dlífidh sé, faoi réir mhír (a) den fho-alt sin (1) agus mhír (a) den fho-alt seo, ach d'ainneoin mhír (c) den fho-alt sin (1), ranníoc a dhéanamh mar atá ráite, d'ainneoin go ndearna na comhaltaí láithreacha na ranníocaí a bhí de cheangal orthu a dhéanamh de bhun an Phríomh-Achta a shásamh;
(c) d'ainneoin mhíreanna (d) agus (e) den fho-alt sin (1), ní bheidh aon teorainn leis an méid a dhlífidh duine a bhí, an tráth sin, ina chomhalta láithreach nó ina iarchomhalta den chuideachta, a ranníoc mar atá ráite.
(8) Ní dhéanfaidh athchlárú ar chuideachta neamhtheoranta mar chuideachta theoranta de bhun an Achta seo difear d'aon chearta ná oibleagáidí de chuid na cuideachta, ná ní fhágfaidh sé go mbeidh aon imeachtaí dlí ag an gcuideachta nó ina coinne lochtach agus, aon imeachtaí dlí a bhféadfaí leanúint díobh nó iad a thionscnamh ina coinne faoina seanstádas féadfar leanúint díobh nó iad a thionscnamh ina coinne faoina stádas nua.
Alt 20 den Phríomh-Acht do scor.
54.—Ní dhéanfaidh aon chuideachta clárú ná athchlárú de bhun alt 20 (1) den Phríomh-Acht tar éis an lae cheaptha ach amháin ar iarratas chuige sin a rinneadh roimh an lá sin.
CUID VI
Ilghnéitheach
Cuideachta phoiblí theoranta d'fhoilsiú nithe áirithe san Iris Oifigiúil.
55.—(1) Foilseoidh cuideachta phoiblí theoranta fógra san Iris Oifigiúil i dtaobh sheachadadh na ndoiciméad seo a leanas ar chláraitheoir na gcuideachtaí—
(a) dearbhú reachtúil faoi alt 6 (2);
(b) cóip de rún lena ndéantar údarás a thabhairt, a athrú, a chúlghairm nó a athnuachan chun críocha alt 20;
(c) cóip de rún speisialta faoi alt 24 (1), (2) nó (3);
(d) aon tuarascáil luachála ó shaineolaí ar chomaoin nach comaoin airgid faoi alt 31 (2);
(e) aon tuarascáil luachála ó shaineolaí ar shócmhainn nach sócmhainn airgid a gheofar ó shínitheoir faoi alt 33 (2);
(f) aon ráiteas nó fógra faoi alt 39 (1), (3) nó (4);
(g) aon tuairisceán ar leithrannta faoi alt 58 (1) den Phríomh-Acht;
(h) aon fhógra i dtaobh fuascailt ar scaireanna tosaíochta faoi alt 69 (1) den Phríomh-Acht;
(i) cóip de rún speisialta chun a scairchaipiteal a laghdú faoi alt 72 (2) den Phríomh-Acht;
(j) cóip d'aon rún nó comhaontú lena mbaineann alt 143 den Phríomh-Acht agus—
(i) a luann na cearta a ghabhann le haon scaireanna sa chuideachta, seachas scaireanna atá, ar gach cuma, ar aon réim (chun críocha alt 39 (1)) le scaireanna a leithroinneadh roimhe sin;
(ii) a athraíonn cearta a ghabhann le haon scaireanna sa chuideachta; nó
(iii) a shannann ainm nó ainmníocht eile nó ainm nua nó ainmníocht nua eile d'aon chineál scaireanna sa chuideachta.
(2) Déanfar an fógra a luaitear i bhfo-alt (1) a fhoilsiú laistigh de shé sheachtain ón seachadadh iomchuí.
(3) Má mhainníonn cuideachta an t-alt seo a chomhlíonadh, beidh an chuideachta agus gach oifigeach don chuideachta a rinne mainneachtain ciontach i gcion agus dlífear, ar iad a chiontú go hachomair, fíneáil nach mó ná £250 a chur orthu.
(4) Féadfaidh cláraitheoir na gcuideachtaí imeachtaí i ndáil le cion faoin alt seo a thionscnamh agus a thabhairt ar aghaidh.
Trádáil faoi ainm atá míthreorach.
56.—(1) Beidh duine nach cuideachta phoiblí theoranta nó (tar éis deireadh na tréimhse eatramhaí ginearálta) is seanchuideachta phoiblí theoranta ciontach i gcion má bhíonn sé ag gabháil d'aon trádáil, gairm nó gnó faoi ainm ina n-áirítear, sa chuid dheiridh de, na focail “public limited company”, nó “cuideachta phoiblí theoranta” nó giorruithe ar na focail sin.
(2) Beidh cuideachta phoiblí theoranta seachas seanchuideachta phoiblí theoranta ciontach i gcion má úsáideann sí, in imthosca inar dóigh go mbeadh sé ábhartha d'aon duine í bheith ina cuideachta phoiblí theoranta, ainm a d'fhéadfadh le réasún a thabhairt le fios gur cuideachta seachas cuideachta phoiblí theoranta í.
(3) Más rud é, sa tréimhse athchlárúcháin, go n-iarrfaidh seanchuideachta phoiblí theoranta go ndéanfaí í a athchlárú faoi alt 12 mar chuideachta phoiblí theoranta, ansin—
(a) i gcaitheamh an dá mhí dhéag tar éis an athchláraithe, beidh feidhm ag aon fhoráil d'alt 114 (1) (b) nó (c) den Phríomh-Acht; agus
(b) i gcaitheamh na dtrí bliana tar éis an athchláraithe, beidh feidhm ag alt 114 (1) (a) den Phríomh-Acht nó ag aon fhoráil d'aon Acht eile nó d'ionstraim reachtúil lena gceanglaítear nó lena n-údaraítear ainm na cuideachta a thaispeáint ar aon doiciméad nó ní eile,
amhail is dá mba é a bhí in aon tagairt san fhoráil sin d'ainm na cuideachta tagairt d'ainm arb é ainm na cuideachta é nó arbh é ainm na cuideachta é roimh athchlárú.
4. Ní bheidh feidhm ag fo-alt (1) maidir le haon chuideachta—
(a) lena mbaineann Cuid XI den Phríomh-Acht; agus
(b) a bhfuil forálacha ina bunreacht a thabharfadh teideal di bheith ina cuideachta phoiblí theoranta dá mba sa Stát a cláraíodh í.
(5) Aon duine a bheidh ciontach i gcion faoi fho-alt (1) nó (2) agus, i gcás gur cuideachta an duine sin, aon oifigeach don chuideachta a rinne mainneachtain, dlífear, ar iad a chiontú go hachomair, fíneáil nach mó ná £500 a chur orthu mar aon le fíneáil, i gcás ciona leanúnaigh, nach mó ná £50 in aghaidh gach lae a leanfar den chion, ach gan dul thar £1,000 san iomlán.
Pionóis.
57.—(1) Cuideachta, nó duine eile, a bheidh ciontach i gcion faoi alt 20 nó 36, dlífear, ar í nó é a chiontú ar díotáil, fineáil nach mó ná £2,500 a chur uirthi nó air.
(2) Cuideachta, nó duine eile, a bheidh ciontach i gcion faoi alt 24, 40 nó 41, dlífear, ar í nó é a chiontú ar díotáil—
(a) i gcás cuideachta, fíneáil nach mó ná £2,500 a chur uirthi;
(b) i gcás duine seachas cuideachta, fíneáil nach mó ná £2,500, nó de rogha na cúirte, príosúnacht ar feadh téarma nach faide ná 2 bhliain, nó an fhíneáil agus an phríosúnacht le chéile, a chur air.
(3) Aon duine a bheidh ciontach i gcion faoi alt 31 dlífear, ar é a chiontú ar díotáil, fíneáil nach mó ná £5,000 nó, de rogha na cúirte, príosúnacht ar feadh téarma nach faide ná 3 bliana, nó an fhíneáil agus an phríosúnacht le chéile, a chur air.
(4) Beidh dlínse ag Breitheamh den Chúirt Dúiche cion faoi alt 20, 24, 31, 36, 40 nó 41 a thriail go hachomair—
(a) más é tuairim an Bhreithimh gur mionchion is intriailte go hachomair na fíorais a cruthaíodh nó a líomhnaíodh in aghaidh cosantóir a cúisíodh i gcion den sórt sin;
(b) má thoilíonn an Stiúrthóir Ionchúiseamh Poiblí leis; agus
(c) mura ndiúltóidh an cosantóir (ar bheith curtha in iúl dó ag an mBreitheamh gurb é a cheart dul ar a thriail roimh ghiúiré) dul ar a thriail go hachomair,
agus ar é a chiontú faoin bhfo-alt seo dlífear pionós mar a leanas a chur ar an gcosantóir sin—
(i) i gcás ina mbeidh an cosantóir ciontach i gcion faoi alt 20 nó 36, fíneáil nach mó ná £500;
(ii) i gcás ina mbeidh an cosantóir ciontach i gcion faoi alt 24, 31, 40 nó 41—
(I) i gcás cuideachta, fíneáil nach mó ná £500;
(II) i gcás duine seachas cuideachta, fíneáil nach mó ná £500 nó, de rogha na Cúirte, príosúnacht ar feadh téarma nach faide ná 6 mhí nó an fhíneáil agus an phríosúnacht le chéile.
(5) Beidh feidhm ag alt 13 den Acht um Nós Imeachta Coiriúil, 1967, i ndáil le cion faoin alt sin 20, 24, 31, 36, 40 nó 41 ionann is dá mbeadh, in ionad na bpionós a shonraítear i bhfo-alt (3) den alt sin 13, an pionós dá bhforáiltear le fo-alt (4) den alt seo sonraithe ann, agus déanfar an tagairt i bhfo-alt 2 (a) den alt sin 13 do na pionóis dá bhforáiltear i bhfo-alt (3) den alt sin 13 a fhorléiriú, agus beidh éifeacht léi, dá réir sin.
Cúlghairm na cumhachta faoi alt 24 den Phríomh-Acht chun “teoranta” a fhágáil as ainm cuideachtaí poiblí teoranta.
58.—(1) Ní dheonófar aon cheadúnas faoi alt 24 den Phríomh-Acht i leith cuideachta poiblí teoranta ná i leith comhlachas atáthar ar tí a fhoirmiú mar chuideachta phoiblí theoranta ná ní bheidh éifeacht leis i leith cuideachta den sórt sin.
(2) Scoirfidh aon cheadúnas den sórt sin a bheidh deonaithe cheana féin do chuideachta d'éifeacht a bheith leis más rud é, tar éis an lae cheaptha, go ndéanfar an chuideachta a chlárú nó a athchlárú mar chuideachta phoiblí theoranta.
Cumhacht, le hordú, foirmeacha a fhorordú agus orduithe a chúlghairm agus a leasú.
59.—(1) Féadfaidh an tAire, le hordú, foirmeacha a fhorordú a bheidh le húsáid i ndáil le haon cheann d'fhorálacha an Achta seo.
(2) Féadfaidh an tAire, le hordú, ordú (seachas ordú arna dhéanamh faoi alt 1 (3)) a rinneadh faoin Acht seo a chúlghairm nó a leasú.
Orduithe a leagan faoi bhráid Thithe an Oireachtais.
60.—Gach ordú a dhéanfar faoin Acht seo, leagfar é faoi bhráid gach Tí den Oireachtas a luaithe is féidir tar éis a dhéanta, agus má dhéanann ceachtar Teach, laistigh den 21 lá a shuífidh an Teach sin tar éis an t-ordú a leagan faoina bhráid, rún a rith ag neamhniú an ordaithe, beidh an t-ordú ar neamhní dá réir sin, ach sin gan dochar do bhailíocht aon ní a rinneadh roimhe sin faoin ordú.
Caiteachais.
61.—Déanfar na caiteachais a thabhófar ag riaradh an Achta seo a íoc, a mhéid a cheadóidh an tAire Airgeadais é, as airgead a sholáthróidh an tOireachtas.
AN CHÉAD SCEIDEAL
Mionleasuithe agus Leasuithe Iarmhartacha ar Acht na gCuideachtaí, 1963.
1. Leasaítear leis seo alt 2 den Phríomh-Acht trí “rún ón gcuideachta” a chur in ionad “rún speisialta” sa mhíniú ar “airteagail” i bhfo-alt (1).
(2) Leasaítear leis seo alt 6 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (1)—
“(1) Ní foláir na nithe seo a leanas a lua i meabhrán gach cuideachta—
(a) i gcás cuideachta poiblí teoranta, ainm na cuideachta, agus ‘public limited company’ nó ‘cuideachta phoiblí theoranta’ mar fhocail dheiridh an ainm;
(b) i gcás cuideachta (seachas cuideachta phoiblí theoranta) atá faoi theorainn scaireanna nó ráthaíochta, ainm na cuideachta, agus ‘limited’ nó ‘teoranta’ mar fhocal deiridh an ainm;
(c) cuspóirí na cuideachta.”.
3. Leasaítear leis seo alt 10 den Phríomh-Acht—
(a) trí “sa dóigh, áfach, nach gcaithfear aon chuid de chaipiteal na cuideachta ar aon cheannach den sórt sin.” a scriosadh i bhfo-alt (6); agus
(b) trí na fo-ailt nua seo a leanas a chur isteach i ndiaidh fho-alt (6)—
“(6A) Más cuí leis an gcúirt, féadfaidh ordú faoin alt seo a fhoráil go bhféadfaidh an chuideachta scaireanna aon chomhaltaí den chuideachta a cheannach agus go ndéanfar laghdú dá réir sin ar chaipiteal na cuideachta agus féadfaidh sé cibé athruithe a dhéanamh i meabhrán agus airteagail na cuideachta de réir mar is gá de dhroim na forála sin.
(6B) Má cheanglaíonn ordú faoin alt seo ar an gcuideachta gan aon athrú, nó gan aon athrú sonraithe, a dhéanamh ar a meabhrán ná a hairteagail, ansin, d'ainneoin aon ní in Achtanna na gCuideachtaí, 1963 go 1983, ní bheidh de chumhacht ag an gcuideachta, gan cead ón gcúirt, aon athrú den sórt sin a dhéanamh de shárú ar an gceanglas sin.
(6C) Aon athrú i meabhrán cuideachta nó in airteagail chuideachta a dhéanfar de bhua ordú faoin alt seo, seachas athrú a dhéanfar le rún ón gcuideachta, beidh an éifeacht chéanna leis amhail is dá mba le rún ón gcuideachta a dhéanfaí go cuí é, agus beidh feidhm ag forálacha Achtanna na gCuideachtaí, 1963 go 1983, maidir leis an meabhrán nó na hairteagail mar a athraíodh iad amhlaidh dá réir sin.”.
4. Leasaítear leis seo alt 22 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (2)—
“(2) Ní bheidh úsáid an ghiorraithe ‘Ltd.’ in ionad ‘Limited’ nó ‘Teo.’ in ionad ‘Teoranta’ nó ‘p.l.c.’ in ionad ‘public limited company’ nó ‘c.p.t.’ in ionad ‘cuideachta phoiblí theoranta’, ina chúis, ann féin, le gur gá clárú amhlaidh.”.
5. Leasaítear leis seo alt 28 den Phríomh-Acht tríd an méid seo a leanas a chur isteach i bhfo-alt (4) i ndiaidh “(6),”— “(6A), (6B), (6C),”.
6. Leasaítear leis seo an Príomh-Acht tríd an alt seo a leanas a chur in ionad alt 35—
“35.—(1) Faoi réir fho-alt (2), má dhéanann cuideachta, is cuideachta phríobháideach, a hairteagail a athrú ar shlí nach mbeidh iontu feasta na forálacha a cheanglaítear, faoi alt 33, a bheith in airteagail chuideachta chun cuideachta phríobháideach a dhéanamh di, scoirfidh an chuideachta de bheith ina cuideachta phríobháideach.
(2) Ní thiocfaidh an t-athrú dá dtagraítear i bhfo-alt (1) in éifeacht murar athchláraíodh an chuideachta mar chuideachta phoiblí theoranta de réir alt 9 d'Acht na gCuideachtaí (Leasú), 1983, nó mar chuideachta phoiblí neamhtheoranta de réir alt 52 den Acht sin.
(3) I gcás ina ndéanfar iarratas chun cuideachta phríobháideach a athchlárú mar chuideachta phoiblí neamhtheoranta seachadfar, i dteannta an iarratais ar athchlárú, ráiteas in ionad réamheolaire agus é san fhoirm, agus na sonraí ann, atá leagtha amach i gCuid I den Dara Sceideal, agus, sna cásanna a luaitear i gCuid II den Sceideal sin, a mbeidh leagtha amach ann na tuarascálacha a shonraítear sa Sceideal sin, agus beidh éifeacht leis na Codanna sin I agus II faoi réir na bhforálacha atá i gCuid III den Sceideal sin.
(4) Ní gá ráiteas in ionad réamheolaire a sheachadadh faoi fho-alt (3) más rud é go n-eiseofar agus go seachadfar ar chláraitheoir na gcuideachtaí, mar a cheanglaítear le halt 47, réamheolaire i ndáil leis an gcuideachta a bheidh, nó a measfar de bhua deimhniú díolúine faoi alt 45 a bheith, de réir an Tríú Sceideal.
(5) I gcás gach ráiteas in ionad réamheolaire a sheachadfar faoi fho-alt (3), má bhíonn na daoine a thabharfaidh aon tuarascáil den sórt dá dtagraítear san fho-alt sin tar éis aon choigeartuithe a dhéanamh inti nó, gan na fáthanna a lua, a chur in iúl inti, ar coigeartuithe iad den sórt a luaitear i mír 5 de Chuid III den Dara Sceideal, formhuineofar air nó cuirfear ag gabháil leis ráiteas i scríbhinn, agus é sínithe ag na daoine sin, a mbeidh na coigeartuithe sin leagtha amach ann agus na fáthanna a bhí leo luaite ann.
(6) Má mhainnítear fo-alt (2), (3) nó (5) a chomhlíonadh beidh an chuideachta agus gach oifigeach don chuideachta a rinne mainneachtain ciontach i gcion, agus dlífear, ar iad a chiontú go hachomair, fíneáil nach mó ná £500 a chur orthu.
(7) Má bhíonn in aon ráiteas in ionad réamheolaire a sheachadfar ar an gcláraitheoir faoi fho-alt (3), aon ráiteas neamhfhírinneach, beidh aon duine a d'údaraigh an ráiteas in ionad réamheolaire a sheachadadh lena chlárú ciontach i gcion agus dlífear—
(a) ar é a chiontú ar díotáil, príosúnacht ar feadh téarma nach faide ná 2 bhliain nó fíneáil nach mó ná £2,500, nó iad araon, a chur air, nó
(b) ar é a chiontú go hachomair, príosúnacht ar feadh téarma nach faide ná 6 mhí nó fíneáil nach mó ná £500, nó iad araon, a chur air;
mura gcruthóidh sé gur ráiteas neamhábhartha an ráiteas neamhfhírinneach nó go raibh cúis réasúnach aige chun a chreidiúint, agus gur chreid sé, anuas go dtí an t-am a seachadadh an ráiteas in ionad réamheolaire lena chlárú, gur ráiteas fírinneach an ráiteas neamhfhírinneach.
(8) Chun críocha an ailt seo—
(a) measfar ráiteas a bheidh curtha isteach i ráiteas in ionad réamheolaire a bheith neamhfhírinneach má tá sé míthreorach san fhoirm agus sa chomhthéacs ina bhfuil sé, agus
(b) measfar ráiteas a bheith curtha isteach i ráiteas in ionad réamheolaire má tá sé istigh ann nó in aon tuarascáil nó meabhrán ar a éadan, nó má tá sé corpraithe ann i modh tagartha.”.
7. Leasaítear leis seo alt 53 den Phríomh-Acht i bhfo-alt (3) trí “Seachas i gcás cuideachta poiblí teoranta ní bheidh an méid is iníoctha” a chur in ionad “Ní bheidh an méid is iníoctha”.
8. Leasaítear leis seo alt 54 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (3)—
“(3) Ní bheidh feidhm ag an alt seo—
(a) maidir le cuideachta phríobháideach; nó
(b) maidir le cuideachta phoiblí theoranta de réir bhrí Acht na gCuideachtaí (Leasú), 1983.”.
9. Leasaítear leis seo alt 55 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (1)—
“(1) Aon leithroinnt a dhéanfaidh cuideachta ar iarratasóir de shárú ar alt 53 nó 54 beidh sí inchurtha ar neamhní ar thionscnamh an iarratasóra laistigh de mhí tar éis dáta na leithroinnte, agus ní bheidh tráth is déanaí ná sin, agus beidh sí inchurtha ar neamhní amhlaidh d'ainneoin an chuideachta a bheith i gcúrsa a foirceanta.”.
10. Leasaítear leis seo alt 60 den Phríomh-Acht trí na fo-ailt nua seo a leanas a chur isteach i ndiaidh fho-alt (15)—
“(15A) Ní bheidh feidhm ag fo-ailt (2) go (11) maidir le cuideachta phoiblí theoranta a corpraíodh amhlaidh i gcéaduair ná le cuideachta a cláraíodh nó a athchláraíodh mar chuideachta phoiblí theoranta faoi Acht na gCuideachtaí (Leasú), 1983, mura ndearnadh rún speisialta mar a fhóráiltear faoi fho-alt (2) a rith roimh iarratas na cuideachta ar chlárú nó ar athchlárú.
(15B) Ní fhéadfaidh cuideachta phoiblí theoranta, de réir fho-alt (13), cúnamh airgid a thabhairt d'aon duine, ach amháin sa chás nach laghdófar leis sin glansócmhainní na cuideachta nó, a mhéid a laghdófar leis sin na sócmhainní sin, gur as brabúis atá ar fáil le haghaidh díbhinne a chuirtear an cúnamh airgid ar fáil.
(15C) San alt seo ciallaíonn “glansócmhainní” comhiomlán shócmhainní na cuideachta lúide comhiomlán a dliteanas; agus folaíonn “dliteanais” aon soláthar (de réir bhrí an Séú Sceideal) ach amháin a mhéid a chuirtear an soláthar sin i gcuntas ag ríomh luach aon sócmhainne don chuideachta.”.
11. Leasaítear leis seo alt 62 (2) den Phríomh-Acht trí “a bheidh le leithroinnt ar chomhaltaí” a chur in ionad “a bheidh le heisiúint chun comhaltaí”.
12. Leasaítear leis seo alt 64 den Phríomh-Acht—
(a) tríd an mír seo a leanas a chur in ionad mhír (c) i bhfo-alt (1)—
“(c) nach foláir soláthar a bheith déanta don phréimh, más ann, is iníoctha ar na scaireanna a fhuascailt, as brabúis na cuideachta a bheadh, murach sin, ar fáil le haghaidh díbhinne nó as cuntas scair-phréimhe na cuideachta sula bhfuasclaítear na scaireanna;”;
agus
(b) trí “a bheidh le leithroinnt ar chomhaltaí” a chur in ionad “a bheidh le heisiúint chun comhaltaí” i bhfo-alt (6):
13. Leasaítear leis seo alt 114 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (5)—
“(5) Ní sárú ar fhorálacha an ailt seo an giorrú ‘Ltd’, a úsáid in ionad ‘Limited’ nó ‘Teo.’ a úsáid in ionad ‘Teoranta’ nó ‘p.l.c.’ a úsáid in ionad ‘public limited company’ nó ‘c.p.t.’ a úsáid in ionad ‘cuideachta phoiblí theoranta’.”.
14. Leasaítear leis seo alt 115 den Phríomh-Acht tríd an méid seo a leanas a chur isteach i ndiaidh mhír (c) i bhfo-alt (7)—
“ , ná
(d) le cuideachta phoiblí theoranta a cláraíodh amhlaidh ar í a chorprú i gcéaduair faoi Acht na gCuideachtaí (Leasú), 1983.”.
15. Leasaítear leis seo alt 143 den Phríomh-Acht tríd an mír nua seo a leanas a chur isteach i ndiaidh mhír (i) i bhfo-alt (4) (arna leasú le hAcht na gCuideachtaí (Leasú), 1982)—
“(j) le rúin ó stiúrthóirí cuideachta a ritheadh de bhua ailt 12 (3) (a) agus 43 (3) d'Acht na gCuideachtaí (Leasú), 1983.”.
16. Leasaítear leis seo alt 200 den Phríomh-Acht tríd an méid seo a leanas a chur isteach i mír (b) i ndiaidh “alt 391”—
“nó faoi alt 42 d'Acht na gCuideachtaí (Leasú), 1983”.
17. Leasaítear leis seo alt 213 den Phríomh-Acht trí na míreanna seo a leanas a chur isteach i ndiaidh mhír (g)—
“(h) más rud é, tar éis dheireadh na tréimhse eatramhaí ginearálta, de réir bhrí Acht na gCuideachtaí (Leasú), 1983, gur seanchuideachta phoiblí theoranta de réir bhrí an Achta sin an chuideachta;
(i) más rud é, tar éis dheireadh na tréimhse eatramhaí do scairchaipiteal, de réir bhrí Acht na gCuideachtaí (Leasú), 1983, nár chomhlíon an chuideachta na coinníollacha a shonraítear in alt 12(9) den Acht sin.”.
18. Leasaítear leis seo alt 215 den Phríomh-Acht tríd an méid seo a leanas a chur isteach i ndiaidh mhír (e)—
“agus
(f) go bhféadfaidh cláraitheoir na gcuideachtaí achainí foirceanta a thíolacadh ar na forais a luaitear in alt 213 (h) nó (i).”.
19. Leasaítear leis seo alt 330 (c) den Phríomh-Acht tríd an bhfomhír seo a leanas a chur in ionad fhomhír (iii)—
“(iii) ainm na cuideachta mar aon leis an bhfocal ‘limited’ nó ‘teoranta’ mar fhocal deiridh ann, nó i gcás cuideachta poiblí teoranta, mar aon leis na focail ‘public limited company’ nó ‘cuideachta phoiblí theoranta’ mar fhocail dheiridh ann; agus”.
20. Leasaítear leis seo alt 335 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (1)—
“(1) Faoi réir fho-alt (2), nuair a dhéanfaidh cuideachta clárú de bhun na Coda seo le dliteanas teoranta, beidh an focal ‘limited’ nó ‘teoranta’ nó, i gcás cuideachta poiblí teoranta, na focail ‘public limited company’ nó ‘cuideachta phoiblí theoranta’, ina chuid nó ina gcuid dá hainm.”.
21. Leasaítear leis seo alt 336 den Phríomh-Acht—
(a) trína athuimhriú mar fho-alt (1) den alt sin; agus
(b) tríd an bhfo-alt nua seo a leanas a chur isteach—
“(2) Beidh aon deimhniú a thabharfar faoin alt seo maidir le cuideachta ina fhianaise dhochloíte gur comhlíonadh ceanglais na Coda seo maidir le clárú agus le nithe roimh an gclárú agus ag baint leis.”.
22. Leasaítear leis seo alt 340 den Phríomh-Acht tríd an méid seo a leanas a chur isteach i bhfo-alt (2) i ndiaidh “méid na ráthaíochta” — “agus lena n-áirítear aon ráiteas faoi alt 330 (c)”.
23. Leasaítear leis seo alt 395 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (2)—
“(2) Féadfaidh an tAire, le hordú—
(a) Table A, Tábla A agus an Tríú, an Seachtú agus an tOchtú Sceideal a athrú;
(b) Táblaí B, C, D agus E sa Chéad Sceideal agus an fhoirm i gCuid II den Chúigiú Sceideal a athrú nó a bhreisiú; agus
(c) na foirmeacha atá leagtha amach sa Dara Sceideal a ghabhann le hAcht na gCuideachtaí (Leasú), 1983, a athrú;
ach ní dhéanfaidh aon athrú ag an Aire ar Table A nó ar Thábla A difear d'aon chuideachta a cláraíodh roimh an athrú, ná aisghairm maidir leis an gcuideachta sin ar aon chuid de Table A nó de Thábla A.”.
24. Déantar leis seo an Chéad Sceideal a ghabhann leis an bPríomh-Acht a leasú in Part I de Table A—
(a) tríd an rialachán seo a leanas a chur in ionad rialachán 3—
“3. If at any time the share capital is divided into different classes of shares, the rights attached to any class may, whether or not the company is being wound up, be varied or abrogated with the consent in writing of the holders of three-fourths of the issued shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class.”;
(b) tríd an rialachán seo a leanas a chur in ionad rialachán 5—
“5. Subject to the provisions of these regulations relating to new shares, the shares shall be at the disposal of the directors, and they may (subject to the provisions of the Companies Acts, 1963 to 1983) allot, grant options over or otherwise dispose of them to such persons, on such terms and conditions and at such times as they may consider to be in the best interests of the company and its shareholders, but so that no share shall be issued at a discount and so that, in the case of shares offered to the public for subscription by a public limited company, the amount payable on application on each share shall not be less than one-quarter of the nominal amount of the share and the whole of any premium thereon.”;
(c) i rialachán 79, trí “, subject to section 20 of the Companies (Amendment) Act, 1983” a chur isteach i ndiaidh “or any part thereof, and”;
(d) i rialachán 80, trí “the Companies Acts, 1963 to 1983” a chur in ionad “the Act”;
(e) tríd an rialachán seo a leanas a chur in ionad rialachán 118—
“118. No dividend or interim dividend shall be paid otherwise than in accordance with the provisions of Part IV of the Companies (Amendment) Act, 1983 which apply to the company.”;
(f) tríd an rialachán nua seo a leanas a chur isteach i ndiaidh rialachán 130—
“130A. The company in general meeting may on the recommendation of the directors resolve that it is desirable to capitalise any part of the amount for the time being standing to the credit of any of the company's reserve accounts or to the credit of the profit and loss account which is not available for distribution by applying such sum in paying up in full unissued shares to be allotted as fully paid bonus shares to those members of the company who would have been entitled to that sum if it were distributed by way of dividend (and in the same proportions), and the directors shall give effect to such resolution.”;
(g) i rialachán 131 trí “Whenever a resolution is passed in pursuance of regulation 130 or 130A” a chur in ionad “Whenever such a resolution as aforesaid shall have been passed”.
25. Déantar leis seo an Chéad Sceideal a ghabhann leis an bPríomh-Acht a leasú i gCuid I de Thábla A—
(a) tríd an rialachán seo a leanas a chur in ionad rialachán 3—
“3. Más rud é tráth ar bith go roinnfear an scairchaipiteal ina scaireanna de chineálacha éagsúla, féadfar na cearta a ghabhfaidh le haon chineál, cibé acu a bheidh an chuideachta á foirceannadh nó nach mbeidh, a athrú nó a aisghairm le toiliú i scríbhinn ó shealbhóirí trí cheathrú de na scaireanna eisithe den chineál sin, nó le ceadú faoi rún speisialta a ritheadh ag cruinniú ginearálta ar leith de shealbhóirí na scaireanna den chineál sin.”;
(b) tríd an rialachán seo a leanas a chur in ionad rialachán 5—
“5. Faoi réir na bhforálacha de na rialacháin seo a bhaineann le scaireanna nua, beidh na scaireanna ar a n-urláimh ag na stiúrthóirí, agus féadfaidh siad (faoi réir fhorálacha Achtanna na gCuideachtaí, 1963 go 1983) iad a leithroinnt ar cibé daoine, nó roghanna orthu a dheonú dóibh, nó iad a dhiúscairt chucu i slí eile, ar cibé téarmaí agus coinníollacha, agus cibé tráthanna, is dóigh leo is fearr a bheadh le leas na cuideachta agus a scair shealbhóirí, ach sa dóigh nach n-eiseofar aon scair faoi lascaine agus sa dóigh, i gcás scaireanna a thairgfidh cuideachta phoiblí theoranta don phobal lena suibscríobh, nach mbeidh an tsuim is iníoctha tráth an iarratais ar gach scair faoi bhun an ceathrú cuid de mhéid ainmniúil na scaire agus iomlán aon phréimhe uirthi.”;
(c) i rialachán 79 trí “faoi réir alt 19 d'Acht na gCuideachtaí (Leasú), 1983” a chur isteach i ndiaidh “a mhorgáistiú nó a mhuirearú, agus,”;
(d) i rialachán 80, trí “le hAchtanna na gCuideachtaí, 1963 go 1983” a chur in ionad “leis an Acht” agus trí “faoi réir fhorálacha Achtanna na gCuideachtaí, 1963 go 1983” a chur in ionad “faoi réir forálacha an Achta”;
(e) tríd an rialachán seo a leanas a chur in ionad rialachán 118—
“118. Ní íocfar díbhinn ná díbhinn eatramhach ar bith seachas de réir na bhforálacha de Chuid IV d'Acht na gCuideachtaí (Leasú), 1983 a bhfuil feidhm acu maidir leis an gcuideachta.”;
(f) tríd an rialachán nua seo a leanas a chur isteach i ndiaidh rialachán 130—
“130A. Féadfaidh an chuideachta, i gcruinniú ginearálta, ar mholadh na stiúrthóirí, a bheartú gur inmhianaithe aon chuid den mhéid a bheidh de thuras na huaire i gcreidiúint d'aon cheann de chúlchuntais na cuideachta nó i gcreidiúint don chuntas sochair agus dochair nach mbeidh ar fáil chun a dháilte a chaipitliú tríd an tsuim sin a chur chun feidhme do láníoc scaireanna neamheisithe a bheidh le leithroinnt mar scaireanna bónais láníoctha ar na comhaltaí sin den chuideachta a bheadh i dteideal na suime sin dá ndéanfaí í a dháileadh i modh díbhinne (agus sna cionúireachtaí céanna) agus tabharfaidh na stiúrthóirí éifeacht don rún sin.”;
(g) i rialachán 131, trí “Aon uair a rithfear rún de bhun rialachán 130 nó 130A” a chur in ionad “Aon uair a rithfear rún mar a dúradh”.
26. Déantar leis seo an Dara Sceideal a ghabhann leis an bPríomh-Acht a leasú i gceannteideal an Sceidil sin trí “CHUIDEACHTA PHOIBLÍ NEAMHTHEORANTA” a chur in ionad “CHUID-EACHTA PHOIBLÍ”.
27. Leasaítear leis seo an Séú Sceideal a ghabhann leis an bPríomh-Acht trí na fomhíreanna nua seo a leanas a chur isteach i ndiaidh fhomhír (2) i mír 11—
“(2A) Más trí fhorghéilleadh nó trí thabhairt suas in ionad forghéillte, nó de bhun alt 41 d'Acht na gCuideachtaí (Leasú), 1983, a gheobhaidh an chuideachta scaireanna i gcuideachta phoiblí theoranta, seachas seanchuideachta phoiblí theoranta de réir bhrí an Achta sin, nó más in imthosca ina bhfuil feidhm ag mír (c) nó (d) d'alt 43(1) den Acht sin a gheobhaidh duine eile iad nó má chuirtear iad faoi lian nó faoi mhuirear arna thógáil ag an gcuideachta (cibé acu go sainráite nó ar shlí eile) agus atá ceadaithe le halt 44(2) (a), (c) nó (d) den Acht sin—
(a) líon agus luach ainmniúil na scaireanna a fuair an chuideachta amhlaidh, a fuair duine eile sna himthosca sin agus a muirearaíodh amhlaidh faoi seach i gcaitheamh na bliana airgeadais;
(b) líon uasta agus luach ainmniúil scaireanna atá, tar éis don chuideachta iad a fháil amhlaidh, nó tar éis do dhuine eile iad a fháil sna himthosca sin, nó tar éis a muirearaithe amhlaidh (cibé acu ar sa bhliain airgeadais nó nach ea a rinneadh é) á sealbhú aon tráth áirithe ag an gcuideachta nó ag an duine eile sin i gcaitheamh na bliana sin;
(c) líon agus luach ainmniúil na scaireanna a fuair an chuideachta amhlaidh, a fuair duine eile sna himthosca sin nó a muirearaíodh amhlaidh (cibé acu ar sa bhliain sin nó nach ea a rinneadh é) agus atá curtha de láimh ag an gcuideachta nó ag an duine eile sin nó atá curtha ar ceal ag an gcuideachta i gcaitheamh na bliana sin;
(d) i gcás ina luaitear, de bhun aon mhír de na míreanna sin roimhe seo, líon agus luach ainmniúil na scaireanna d'aon tuairisc áirithe, an céatadán den scairchaipiteal glaoite a bhfuil scaireanna den tuairisc sin ag freagairt dó;
(e) i gcás inar muirearaíodh amhlaidh aon scair de na scaireanna, méid an mhuirir i ngach cás; agus
(f) i gcás ina ndearna an chuideachta nó an duine a fuair na scaireanna sna himthosca sin aon scaireanna díobh a chur de láimh ar airgead nó ar luach airgid, méid nó luach na comaoine i ngach cás.
(2B) Aon dáileadh ag cuideachta infheistíochta de réir bhrí Chuid IV d'Acht na gCuideachtaí (Leasú), 1983, a laghdaíonn méid a glansócmhainní go dtí méid is lú ná comhiomlán a scairchaipiteal glaoite agus a cúlchistí neamhindáilte. San fhomhír seo tá le “glansócmhainní” agus le “scairchaipiteal glaoite” na bríonna céanna atá leo in alt 2 d'Acht na gCuideachtaí (Leasú), 1983, agus tá le “cúlchistí neamhindáilte” an bhrí chéanna atá leis in alt 46 (2) den Acht sin.”.
28. Leasaítear leis seo an Seachtú Sceideal a ghabhann leis an bPríomh-Acht tríd an mír nua seo a leanas a chur isteach i ndiaidh mhír 4—
“5. Cibé acu atá, dar leo, ar dháta an chláir chomhardaithe de réir bhrí Acht na gCuideachtaí (Leasú), 1983, cor airgid ann ar ghá faoi alt 40(1) den Acht sin cruinniú ginearálta urghnách den chuideachta a chomóradh.”.
29. Leasaítear leis seo an Naoú Sceideal a ghabhann leis an bPríomh-Acht—
(a) tríd an méid seo a leanas a chur isteach sa chéad cholún i ndiaidh “Clár stiúrthóirí agus rúnaithe”: “Sonraí a bhaineann le stiúrthóirí a bheith le taispeáint ar gach litir ghnó ón gcuideachta”; agus
(b) tríd an méid seo a leanas a chur isteach sa dara colún i ndiaidh “Alt 195”: “Alt 196”.
30. Leasaítear leis seo an Deichiú Sceideal a ghabhann leis an bPríomh-Acht tríd an méid seo a leanas a scriosadh as an gcéad agus as an dara colún den Sceideal sin—
“130 Cruinniú reachtúil agus tuarascáil reachtúil.”.
AN DARA SCEIDEAL
Foirmeacha Meabhrán Comhlachais Chuideachta Poiblí Teoranta
CUID I
Cuideachta Phoiblí faoi theorainn scaireanna.
1. “Mianadóireacht an Tuaiscirt, cuideachta phoiblí theoranta” is ainm don chuideachta.
2. Cuideachta phoiblí theoranta a bheidh sa chuideachta.
3. Is iad na cuspóirí ar lena n-aghaidh atá an chuideachta á bunú chun mianraí de gach cineál a thochailt agus chun gach ní eile a dhéanamh a ghabhann nó a chuideodh leis an gcuspóir sin thuas a thabhairt i gcrích.
4. Tá teorainn le dliteanas na gcomhaltaí.
5. £30,000, agus é roinnte i 30,000 scair de £1 an ceann, scairchaipiteal na cuideachta.
Sinne, na daoine uile agus faoi seach a bhfuil a n-ainmneacha agus a seoltaí scríofa acu anseo thíos, is mian linn go ndéanfaí cuideachta dínn de bhun an mheabhráin chomhlachais seo, agus comhaontaímid go dtógfaimid an líon scaireanna i gcaipiteal na cuideachta atá curtha síos os coinne ár n-ainmneacha faoi seach.
Ainmneacha, Seoltaí agus Tuairiscí na Sínitheoirí | An líon Seaireanna atá á thógáil ag gach Sínitheoir |
1. Séamas Ó Meachair as............................................................................... | |
i gContae............................................................................................ | 5 |
Aturnae | |
2. Seán Ó Briain as......................................................................................... | |
i gContae............................................................................................ | 375 |
Innealtóir | |
3. Micheál Ó Nualláin as................................................................................. | |
i gContae............................................................................................ | 225 |
Innealtóir | |
4. Pádraig Ó hAodha as.................................................................................. | |
i gContae............................................................................................ | 55 |
Geolaí | |
5. Pól Mac Cárthaigh as.................................................................................. | |
i gContae............................................................................................ | 10 |
Geolaí | |
6. Tomás Ó Cinnéide as.................................................................................. | |
i gContae............................................................................................ | 30 |
Cuntasóir | |
7. Seosamh Ó Meára as................................................................................. | |
i gContae............................................................................................ | 15 |
Aturnae | |
Iomlán na scaireanna atá á dtógáil | 715 |
Arna dhátú an .............. lá de .........................................., 19...........
Finné leis na sínithe sin thuas:
Ainm:
Seoladh:
CUID II
Cuideachta Phoiblí faoi Theorainn Ráthaíochta agus a bhfuil Scairchaipiteal aici
1. “Forbairt Turasóireachta Chontaetha an Deiscirt, cuideachta phoiblí theoranta” is ainm don chuideachta.
2. Cuideachta phoiblí theoranta a bheidh sa chuideachta.
3. Is iad na cuspóirí ar lena n-aghaidh atá an chuideachta á bunú, chun turasóireacht i gcontaetha dheisceart na hÉireann a chur chun cinn trí shaoráidí a chur ar fáil do thurasóirí, agus gach ní eile a dhéanamh a ghabhann nó a chuideodh leis an gcuspóir sin thuas a thabhairt i gcrích.
4. Tá teorainn le dliteanas na gcomhaltaí.
5. Geallann gach comhalta den chuideachta go ranníocfaidh sé le sócmhainní na cuideachta i gcás í a fhoirceannadh le linn dó bheith ina chomhalta, nó laistigh de bhliain ina dhiaidh sin, chun íoc as na fiacha agus na dliteanais de chuid na cuideachta a rachfar fúthu sula scoirfidh sé de bheith ina chomhalta, agus as costais, muirir agus caiteachais an fhoirceanta, agus chun coigeartú a dhéanamh ar chearta na ranníocóirí eatarthu féin, cibé suim is gá ach gan dul thar £25.
6. Is é a bheidh i scairchaipiteal na cuideachta £30,000 agus é roinnte i 30,000 scair de £1 an ceann.
Sinne, na daoine uile agus faoi seach a bhfuil a n-ainmneacha agus a seoltaí scríofa acu anseo thíos, is mian linn go ndéanfaí cuideachta dínn de bhun an mheabhráin chomhlachais seo, agus comhaontaímid go dtógfaimid an líon scaireanna i gcaipiteal na cuideachta atá curtha síos os coinne ár n-ainmneacha faoi seach.
Ainmneacha, Seoltaí agus Tuairiscí na Sínitheoirí | An líon Scaireanna atá á thógáil ag gach Sínitheoir |
1. Seán Ó Beoláin as...................................................................................... | |
i gContae............................................................................................ | 5 |
Aturnae | |
2. Mairtín Mac Cuilín as.................................................................................. | |
i gContae............................................................................................ | 375 |
Dílseánach Óstáin | |
3. Seán Mac Eochaidh as................................................................................ | |
i gContae............................................................................................ | 225 |
Innealtóir | |
4. Séamas Ó Mongáin as................................................................................ | |
i gContae............................................................................................ | 55 |
Gníomhaire Taistil | |
5. Pól de Róiste as.......................................................................................... | |
i gContae............................................................................................ | 10 |
Feirmeoir | |
6. Caoimhín Ó Súilleabháin as......................................................................... | |
i gContae............................................................................................ | 30 |
Ailtire | |
7. Treasa Ní Chonchúir as............................................................................... | |
i gContae............................................................................................ | 15 |
Bean tí | |
Iomlán na Scaireanna atá á dtógáil | 715 |
Arna dhátú an .............. lá de .........................................., 19...........
Finné leis na sínithe sin thuas:
Ainm:
Seoladh:
AN TRÍÚ SCEIDEAL
Aisghairm
CUID I
Forálacha Acht na gCuideachtaí, 1963 | Méid na haisghairme |
Alt 2(1) (Foráil ghinearálta maidir le léiriú)....................... | Mínithe ar “cruinniú reachtúil” agus “tuarascáil reachtúil”. |
Alt 19 (Deimhniú corpraithe ina fhianaise dhochloíte)....................................................................... | An t-alt go léir. |
Alt 48 (Srian le hathrú ar théarmaí a luaitear sa réamheolaire nó sa ráiteas in ionad réamheolaire)....................................................................... | An t-alt go léir. |
Alt 63 (Cumhacht chun scaireanna a eisiúint faoi lascaine)..................................................................... | An t-alt go léir. |
Alt 130 (Cruinniú reachtúil agus tuarascáil reachtúil).......................................................... | An t-alt go léir. |
Alt 149 (Ábhair agus foirm na gcuntas; ríomh na mbrabús agus na gcaillteanas, agus mar a dhéileáiltear leo)............................................................................ | Fo-alt (6). |
Alt 213 (Imthosca ina bhféadfaidh an chúirt cuideachta a fhoirceannadh)............................................................ | Mír (b). |
Alt 215 (Forálacha maidir le hiarratais chun cuideachta a fhoirceannadh)............................................................ | Mír (b). |
Alt 216 (Cumhachtaí na cúirte ar achainí a éisteacht)........................................................................ | Fo-alt (2). |
An Chéad Sceideal, Table A, Part I................................ | I rialachán 11 na focail “, and the company shall also have a first and paramount lien on all shares (other than fully paid shares) standing registered in the name of a single person for all moneys immediately payable by him or his estate to the company”. |
An Chéad Sceideal, Tábla A, Cuid I | I rialachán 11 na focail “, agus beidh túslian ceannasach ag an gcuideachta freisin ar gach scair (seachas scaireanna láníoctha) a bheidh cláraithe in ainm duine aonair le haghaidh an airgid uile is iníoctha láithreach aige féin, nó ag a eastát, leis an gcuideachta”. |
An Chéad Sceideal, Tábla D........................................... | Cuid II. |
CUID II
Forálacha Acht na gCuideachtaí (Leasú), 1982 | Méid na haisghairme. |
Alt 3 (Sonraí a bheidh le seachadadh i dteannta meabhráin).................................................................. | Fo-Alt (6). |
Na hAchtanna dá dtagraítear | |
Assurance Companies Act, 1909 | 1909, c. 49 |
Chartered Companies Act, 1837 | 1837, c. 73 |
Number 13 of 1983
COMPANIES (AMENDMENT) ACT, 1983
ARRANGEMENT OF SECTIONS
Preliminary
Section | |
Name of public limited company, registration and re-registration of companies
The capital of a company
Authorised share capital and the issue of share capital
Pre-emption rights
Payment for share capital
Experts' reports on non-cash consideration before allotment of shares. | |
Experts' reports on non-cash assets acquired from subscribers, etc. | |
Maintenance of capital
Obligation to convene extraordinary general meeting in event of serious loss of capital. | |
Treatment of shares held by or on behalf of a public limited company. | |
Restrictions on distribution of profits and assets
Change of status of certain companies
Miscellaneous
Public limited company to publish certain matters in Iris Oifigiúil. | |
Power by order to prescribe forms and to revoke and amend orders. | |
Minor and consequential amendments to the Companies Act, 1963.
Forms of memorandum of association of a public limited company.
Repeals.
Acts Referred to | |
Assurance Companies Act, 1909 | 1909, c. 49 |
Chartered Companies Act, 1837 | 1837, c. 73 |
1963, No. 33 | |
1977, No. 31 | |
1982, No. 10 | |
1967 No. 12 | |
1946, No. 16 | |
1936, No. 45 | |
Number 13 of 1983
COMPANIES (AMENDMENT) ACT, 1983
PART I
Preliminary
Short title, collective citation and commencement.
1.—(1) This Act may be cited as the Companies (Amendment) Act, 1983.
(2) The collective citation “the Companies Acts, 1963 to 1983” shall include this Act.
(3) This Act shall come into operation on such day as the Minister may appoint by order.
Interpretation.
2.—(1) In this Act unless the context otherwise, requires—
“the appointed day” means the day appointed by the Minister under section 1 (3) for the coming into operation of this Act;
“the appropriate rate”, in relation to interest, means five per cent. per annum or such other rate as may be specified by order made by the Minister under subsection (7);
“the authorised minimum” has the meaning assigned to it by section 19;
“balance sheet date”, in relation to a balance sheet, means the date as at which the balance sheet was prepared;
“called-up share capital”, in relation to a company, means so much of its share capital as equals the aggregate amount of the calls made on its shares, whether or not those calls have been paid, together with any share capital paid up without being called and any share capital to be paid on a specified future date under the articles, the terms of allotment of the relevant shares or any other arrangements for payment of those shares, and “uncalled share capital” shall be construed accordingly;
“the Companies Acts” means the Acts which by virtue of subsection (5) shall be construed as one Act;
“employees' share scheme” means any scheme for the time being in force, in accordance with which a company encourages or facilitates the holding of shares or debentures in the company or its holding company by or for the benefit of employees or former employees of the company or of any subsidiary of the company including any person who is or was a director holding a salaried employment or office in the company or any subsidiary of the company;
“equity security” has the meaning assigned to it by section 23(13);
“the general transitional period” means the period of 18 months commencing on the appointed day;
“hire-purchase agreement” has the same meaning as in the Hire- Purchase Act, 1946;
“the Minister” means the Minister for Trade, Commerce and Tourism;
“non-cash asset” means any property or interest in property other than cash (including foreign currency);
“old public limited company” has the meaning assigned to it by section 12(1);
“the Principal Act” means the Companies Act, 1963;
“public company” means a company which is not a private company;
“public limited company” means a public company limited by shares or a public company limited by guarantee and having a share capital, being a company—
(a) the memorandum of which states that the company is to be a public limited company; and
(b) in relation to which the provisions of the Companies Acts as to the registration or re-registration of a company as a public limited company have been complied with on or after the appointed day;
“the re-registration period” has the meaning assigned to it by section 13(1);
“the transitional period for share capital” means the period of 3 years commencing on the appointed day.
(2) In relation to an allotment of shares in a company, the shares shall be taken for the purposes of the Companies Acts to be allotted when a person acquires the unconditional right to be included in the company's register of members in respect of those shares.
(3) For the purposes of the Companies Acts—
(a) a share in a company shall be taken to have been paid up (as to its nominal value or any premium on it) in cash or allotted for cash if the consideration for the allotment or the payment up is cash received by the company or is a cheque received by the company in good faith which the directors have no reason for suspecting will not be paid or is the release of a liability of the company for a liquidated sum or is an undertaking to pay cash to the company at a future date; and
(b) in relation to the allotment or payment up of any shares in a company, references in the Companies Acts, except in section 23, to consideration other than cash and to the payment up of shares and premiums on shares otherwise than in cash include references to the payment of, or an undertaking to pay, cash to any person other than the company;
and for the purposes of determining whether a share is or is to be allotted for cash or paid up in cash, “cash” includes foreign currency.
(4) For the purposes of this Act—
(a) any reference to a balance sheet or to a profit and loss account shall include a reference to any notes thereon or document annexed thereto giving information which is required by the Companies Acts and is thereby allowed to be so given;
(b) any reference to the transfer or acquisition of a non-cash asset includes a reference to the creation or extinction of an estate or interest in, or a right over, any property and also a reference to the discharge of any person's liability, other than a liability for a liquidated sum; and
(c) the net assets of a company are the aggregate of its assets less the aggregate of its liabilities;
and in paragraph (c) “liabilities” includes any provision (within the meaning of the Sixth Schedule to the Principal Act) except to the extent that that provision is taken into account in calculating the value of any asset of the company.
(5) The Companies Act, 1963, the Companies (Amendment) Act, 1977, the Companies (Amendment) Act, 1982, and this Act shall be construed together as one Act.
(6) In this Act—
(a) a reference to a Part, section or Schedule is to a Part, section or Schedule of this Act unless it is indicated that a reference to some other enactment is intended;
(b) a reference to a subsection, paragraph or subparagraph is to the subsection, paragraph or subparagraph of the provision in which the reference occurs, unless it is indicated that reference to some other provision is intended; and
(c) a reference to any other enactment shall, unless the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment, including this Act.
(7) The Minister may by order specify that the appropriate rate of interest for the purposes of this Act shall be a rate other than five per cent. per annum.
Amendments, repeals and savings.
3.—(1) The provisions of the Principal Act specified in the First Schedule are hereby amended to the extent specified in that Schedule.
(2) The provisions of the Principal Act and the Companies (Amendment) Act, 1982, specified in the first column of the Third Schedule are hereby repealed to the extent specified in the second column of that Schedule.
(3) Paragraphs 24 and 25 of the First Schedule (which amend Table A and Tábla A respectively in the First Schedule to the Principal Act) and any repeal specified in the Third Schedule of anything contained in the said Table A and the said Tábla A shall not affect any company registered before the appointed day.
(4) In the Principal Act, a reference to a company registered under any specified enactment shall continue to have effect as a reference to a company registered under that enactment, notwithstanding that it has subsequently been re-registered under this Act.
PART II
Name of public limited company, registration and re-registration of companies.
Name of a public limited company.
4.—(1) The name of a public limited company must end with the words “public limited company” or “cuideachta phoiblí theoranta” which may be abbreviated to “p.l.c.” or “c.p.t.” respectively and those words or abbreviations may not be preceded by the word “limited” or its abbreviation “ltd.” or “teoranta” or its abbreviation “teo.”.
(2) Subject to subsection (1), a resolution in accordance with section 12 that a company be re-registered as a public limited company may change the name of the company by deleting—
(a) the word “company” or the words “and company”; or
(b) the word “cuideachta” or the words “agus cuideachta”,
including any abbreviation of them, and no fee shall be payable in respect of any change of name mentioned in this subsection.
(3) The memorandum of a public limited company which is limited by shares shall be in the form set out in Part I of the Second Schedule or, if it is a company limited by guarantee and having a share capital, in the form set out in Part II of that Schedule or, in either case, as near thereto as circumstances admit; and those forms supersede in the case of a public limited company the forms of memorandum set out respectively in Tables B and D in the First Schedule to the Principal Act.
Registration of companies.
5.—(1) Where any memorandum is delivered for registration under section 17 of the Principal Act, the registrar shall not register the memorandum unless he is satisfied that all the requirements of the Companies Acts in respect of registration and of matters precedent and incidental thereto have been complied with.
(2) Where a memorandum which is so delivered states that the association to be registered is to be a public limited company, the amount of the share capital stated in the memorandum to be that with which the company proposes to be registered must not be less than the authorised minimum.
(3) Where the registrar registers an association's memorandum which states that the association is to be a public limited company, the certificate of incorporation given in respect of that association under section 18 of the Principal Act shall contain a statement that the company is a public limited company.
(4) A certificate of incorporation given under that section in respect of any association shall be conclusive evidence—
(a) that the requirements mentioned in subsection (1) have been complied with, and that the association is a company authorised to be registered and is duly registered under the Principal Act; and
(b) if the certificate contains a statement that the company is a public limited company, that the company is such a company.
(5) A statutory declaration in the prescribed form by a solicitor engaged in the formation of a company, or by a person named as a director or secretary of the company in the statement delivered under section 3 of the Companies (Amendment) Act, 1982 that the requirements mentioned in subsection (1) have been complied with shall be delivered to the registrar, and the registrar may accept such a declaration as sufficient evidence of compliance.
Restriction on commencement of business by a public limited company.
6.—(1) A company registered as a public limited company on its original incorporation shall not do business or exercise any borrowing powers unless the registrar of companies has issued it with a certificate under this section or the company is re-registered as another form of company.
(2) The registrar shall issue a public limited company with a certificate under this section if, on an application made to him in the prescribed form by the company, he is satisfied that the nominal value of the company's allotted share capital is not less than the authorised minimum, and there is delivered to him a statutory declaration complying with subsection (3).
(3) The statutory declaration shall be in the prescribed form and signed by a director or secretary of the company and shall state—
(a) that the nominal value of the company's allotted share capital is not less than the authorised minimum;
(b) the amount paid up, at the time of the application, on the allotted share capital of the company;
(c) the amount, or estimated amount, of the preliminary expenses of the company and the persons by whom any of those expenses have been paid or are payable; and
(d) any amount or benefit paid or given or intended to be paid or given to any promoter of the company, and the consideration for the payment or benefit.
(4) For the purposes of subsection (2), a share allotted in pursuance of an employees' share scheme may not be taken into account in determining the nominal value of the company's allotted share capital unless it is paid up at least as to one-quarter of the nominal value of the share and the whole of any premium on the share.
(5) The registrar may accept a statutory declaration delivered to him under subsection (2) as sufficient evidence of the matters stated therein.
(6) A certificate under this section in respect of any public limited company shall be conclusive evidence that the company is entitled to do business and exercise any borrowing powers.
(7) If a public limited company does business or exercises borrowing powers in contravention of this section, the company and any officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £500.
(8) The provisions of this section are without prejudice to the validity of any transaction entered into by a public limited company; but if a public limited company enters into a transaction in contravention of those provisions and fails to comply with its obligations in connection therewith within 21 days from being called upon to do so, the directors of the company shall be jointly and severally liable to indemnify the other party to the transaction in respect of any loss or damage suffered by him by reason of the failure of the company to comply with those obligations.
Prohibition on formation of public company limited by guarantee and having a share capital.
7.—On or after the appointed day, no company shall be formed as, or become, a public company limited by guarantee and having a share capital.
Power of registrar to strike public limited company off register.
8.—(1) Where a public limited company registered as such on its original incorporation has not been issued with a certificate under section 6 within one year from the date on which it was registered, the registrar may send to the company, by registered post, a letter stating that a notice will be published in Iris Oifigiúil with a view to striking the name of that public limited company off the register unless such a certificate has been issued to the company within one month from the date of that letter.
(2) Where a certificate referred to in section 6 has not been issued within one month from the date of the letter referred to in subsection (1), the registrar may publish such notice and may proceed to strike the name of the public limited company off the register in accordance with section 311 (5) of the Principal Act.
(3) Section 311 (6), (7) and (8) of the Principal Act shall apply to a public limited company the name of which has been struck off the register in accordance with subsection (2) as those subsections apply for the purposes of the said section 311.
Re-registration of private company as public limited company.
9.—(1) Subject to section 11, a private company may be re-registered as a public limited company if—
(a) a special resolution, complying with subsection (2) that it should be so re-registered is passed; and
(b) an application for the purpose, in the prescribed form and signed by a director or secretary of the company, is delivered to the registrar together with the documents mentioned in subsection (3); and
(c) the conditions specified in subsection (5)(a) and (b) (where applicable) and section 10(1) (a) to (d) are satisfied in relation to the company.
(2) The special resolution must—
(a) alter the company's memorandum so that it states that the company is to be a public limited company;
(b) make such other alterations in the memorandum as are necessary to bring it in substance and in form into conformity with the requirements of this Act with respect to the memorandum of a public limited company; and
(c) make such alterations in the company's articles as are requisite in the circumstances.
(3) The documents referred to in subsection (1) are—
(a) a printed copy of the memorandum and articles as altered in pursuance of the resolution;
(b) a copy of a written statement by the auditors of the company that in their opinion the relevant balance sheet shows that at the balance sheet date the amount of the company's net assets was not less than the aggregate of its called-up share capital and undistributable reserves;
(c) a copy of the relevant balance sheet, together with a copy of an unqualified report by the company's auditors in relation to that balance sheet;
(d) a copy of any report prepared under subsection (5)(b); and
(e) a statutory declaration in the prescribed form by a director or secretary of the company—
(i) that the special resolution mentioned in subsection (1) (a) has been passed and that the conditions specified in subsection (1)(c) have been satisfied; and
(ii) that, between the balance sheet date and the application of the company for re-registration, there has been no change in the financial position of the company that has resulted in the amount of the company's net assets becoming less than the aggregate of its called-up share capital and undistributable reserves.
(4) The registrar may accept a statutory declaration under subsection (3) (e) as sufficient evidence that the special resolution has been passed and the said conditions have been satisfied.
(5) Where shares are allotted by the company between the balance sheet date and the passing of the special resolution as fully or partly paid up as to their nominal value or any premium on them otherwise than in cash, the company shall not make an application for re-registration under this section unless before the making of the application—
(a) the consideration for that allotment has been valued in accordance with the provisions of section 30 applied by this subsection and section 31; and
(b) a report with respect to its value has been made to the company in accordance with those provisions during the six months immediately preceding the allotment of the shares;
and subsections (2) to (8) and (12) to (14) of section 30 shall apply for the purposes of this subsection as they apply for the purposes of that section and as if the references to subsection (1) of section 30 were references to this subsection.
(6) If the registrar is satisfied on an application made under subsection (1) that a company may be re-registered under this section as a public limited company, he shall—
(a) retain the application and other documents delivered to him under that subsection; and
(b) issue the company with a certificate of incorporation stating that the company is a public limited company.
(7) The registrar shall not issue a certificate of incorporation under subsection (6) if it appears to him that the court has made an order confirming a reduction of the company's capital which has the effect of bringing the nominal value of the company's allotted share capital below the authorised minimum.
(8) Upon the issue to a company of a certificate of incorporation under subsection (6)—
(a) the company shall by virtue of the issue of that certificate become a public limited company; and
(b) any alterations in the memorandum and articles set out in the resolution shall take effect accordingly.
(9) A certificate of incorporation issued to a company under subsection (6) shall be conclusive evidence—
(a) that the requirements of this Act in respect of re-registration and of matters precedent and incidental thereto have been complied with; and
(b) that the company is a public limited company.
(10) The re-registration of a private company as a public limited company pursuant to this Act shall not affect any rights or obligations of the company or render defective any legal proceedings by or against the company, and any legal proceedings which might have been continued or commenced against it in its former status may be continued or commenced against it in its new status.
(11) A qualification shall be treated for the purposes of the definition of an unqualified report in subsection (13) as being not material in relation to any balance sheet if, but only if, the person making the report states in writing that the thing giving rise to the qualification is not material for the purposes of determining, by reference to that balance sheet, whether at the balance sheet date the amount of the company's net assets was not less than the aggregate of its called-up share capital and undistributable reserves.
(12) For the purposes of the making, in relation to the balance sheet of a company, of a report falling within the definition in subsection (13) of an unqualified report, section 149 of and the Sixth Schedule to the Principal Act shall be deemed to have effect in relation to that balance sheet with such modifications as are necessary by reason of the fact that that balance sheet is prepared otherwise than in respect of a financial year.
(13) In this section—
“undistributable reserves” has the same meaning as in section 46 (2);
“relevant balance sheet” means, in relation to a company, a balance sheet prepared as at a date not more than seven months before the company's application for re-registration under this section; and
“unqualified report” means, in relation to the balance sheet of a company, a report stating without material qualification—
(a) that, in the opinion of the person making the report, the balance sheet complies with the requirements of sections 149 and 156 of the Principal Act; and
(b) without prejudice to paragraph (a) that, except where the company is entitled to avail itself, and has availed itself, of the benefit of any of the provisions of Part III of the Sixth Schedule to the Principal Act, in the opinion of that person, the balance sheet gives a true and fair view of the state of the company's affairs as at the balance sheet date.
Requirements as to share capital of private company applying to re-register as public limited company.
10.—(1) Subject to subsection (2), a private company shall not be re-registered under section 9 as a public limited company unless, at the time the special resolution referred to in that section is passed—
(a) the nominal value of the company's allotted share capital is not less than the authorised minimum;
(b) each of its allotted shares is paid up at least as to one-quarter of the nominal value of that share and the whole of any premium on it;
(c) where any share in the company or any premium payable on it has been fully or partly paid up by an undertaking given by any person that he or another should do work or perform services for the company or another, the undertaking has been performed or otherwise discharged; and
(d) where shares have been allotted as fully or partly paid up as to their nominal value or any premium payable on them otherwise than in cash and the consideration for the allotment consists of or includes an undertaking (other than one to which paragraph (c) applies) to the company, either—
(i) that undertaking has been performed or otherwise discharged; or
(ii) there is a contract between the company and any person pursuant to which that undertaking must be performed within five years from that time.
(2) Subject to subsection (3), any share allotted by the company—
(a) which was allotted before the end of the general transitional period; or
(b) which was allotted in pursuance of an employees' share scheme and by reason of which the company would, but for this subsection, be precluded under subsection (1) (b), but not otherwise, from being re-registered as a public limited company,
may be disregarded for the purpose of determining whether subsection (1) (b) to (d) is complied with in relation to the company, and a share so disregarded shall be treated for the purposes of subsection (1) (a) as if it were not part of the allotted share capital of the company.
(3) A share shall not be disregarded by virtue of subsection (2) (a) if the aggregate in nominal value of that share and the other shares which it is proposed so to disregard is more than one-tenth of the nominal value of the company's allotted share capital (not including any share disregarded by virtue of subsection (2) (b)).
Re-registration of unlimited company as public limited company.
11.—(1) An unlimited company may be re-registered as a public limited company and for the purposes of such re-registration sections 9 and 53 (6) and (7) shall have effect subject to the modifications contained in this section.
(2) The special resolution required by section 9 (1) must, in addition to the matters mentioned in section 9 (2)—
(a) state that the liability of the members is to be limited by shares and what the share capital of the company is to be; and
(b) make such alterations in the company's memorandum as are necessary to bring it in substance and in form into conformity with the requirements of the Companies Acts with respect to the memorandum of a company limited by shares.
(3) The certificate of incorporation issued under section 9 (6) shall, in addition to containing the statement required by paragraph (b) of that subsection, state that the company has been incorporated as a company limited by shares and—
(a) the company shall by virtue of the issue of that certificate become a public limited company so limited; and
(b) the certificate shall be conclusive evidence of the fact that it is such a public limited company.
(4) Section 53 (6) and (7) shall have effect as if any reference to the re-registration of a company in pursuance of that section included a reference to the re-registration of an unlimited company as a public limited company in accordance with subsection (1), but except as aforesaid the said section 53 shall not apply in relation to the re-registration of an unlimited company as a public limited company.
Old public limited companies.
12.—(1) In this Act “old public limited company” means a public company limited by shares or a public company limited by guarantee and having a share capital in respect of which the following conditions are satisfied, that is to say—
(a) the company either existed on the appointed day or was incorporated after that day pursuant to an application made before that day; and
(b) the company has not since the appointed day or the day of the company's incorporation, as the case may be, either been re-registered as a public limited company or become another form of company.
(2) The references in the Principal Act to a company other than a private company and, after the end of the general transitional period, in this Act other than this Part to a public limited company shall, unless the context otherwise requires, include references to an old public limited company.
(3) An old public limited company may (either before or after the end of the general transitional period) be re-registered as a public limited company if—
(a) the directors pass a resolution, complying with subsection (4), that it should be so re-registered; and
(b) an application for the purpose in the prescribed form and signed by a director or secretary of the company is delivered to the registrar, together with the documents mentioned in subsection (5); and
(c) at the time of the resolution, the conditions specified in subsection (9) are satisfied.
(4) The resolution referred to in subsection (3) must alter the company's memorandum so that it states that the company is to be a public limited company and make such other alterations in it as are necessary to bring it in substance and in form into conformity with the requirements of this Act with respect to the memorandum of a public limited company.
(5) The documents referred to in subsection (3) are—
(a) a printed copy of the memorandum as altered in pursuance of the resolution; and
(b) a statutory declaration in the prescribed form by a director or secretary of the company that the resolution mentioned in subsection (3) (a) has been passed and that the conditions specified in subsection (9) were satisfied at the time of the resolution.
(6) The registrar may accept a declaration under subsection (5) (b) as sufficient evidence that the said resolution has been passed and that the said conditions were so satisfied.
(7) Subsections (6) to (9) of section 9 shall apply on an application for re-registration under this section as they apply on an application for re-registration under that section and as if the reference to subsection (1) of that section were a reference to subsection (3) of this section.
(8) If an old public limited company applies for re-registration as a public limited company in accordance with subsection (3) and at the time of making that application delivers to the registrar a statutory declaration in the prescribed form by a director or secretary of the company that the company does not at the time of the declaration satisfy the conditions specified in subsection (9), the registrar shall re-register the company as a public limited company but shall notify it that if, within the transitional period for share capital, it has not satisfied the aforesaid conditions it must re-register as another form of company or wind up voluntarily under section 251 of the Principal Act. Failure so to re-register or wind up shall constitute grounds for a winding-up by the court under section 213(i) of the Principal Act.
(9) The conditions referred to in subsections (3)(c) and (8) are that, at the time of the resolution, the nominal value of the company's allotted share capital is not less than the authorised minimum and that in the case of all the shares of the company or all those of its shares which are comprised in a portion of that capital which satisfies that condition—
(a) each share is paid up at least as to one-quarter of the nominal value of that share and the whole of any premium on it;
(b) where any of the shares in question or any premium payable on them has been fully or partly paid up by an undertaking given by any person that he or another should do work or perform services for the company or another, the undertaking has been performed or otherwise discharged; and
(c) where any of the shares in question has been allotted as fully or partly paid up as to its nominal value or any premium payable on it otherwise than in cash and the consideration for the allotment consists of or includes an undertaking (other than one to which paragraph (b) applies) to the company, either—
(i) that undertaking has been performed or otherwise discharged; or
(ii) there is a contract between the company and any person pursuant to which that undertaking must be performed within five years from the time of the resolution.
(10) The re-registration of an old public limited company as a public limited company pursuant to this Act shall not affect any rights or obligations of the company or render defective any legal proceedings by or against the company, and any legal proceedings which might have been continued or commenced against it in its former status may be continued or commenced against it in its new status.
Failure by an old public limited company to re-register as public limited company.
13.—(1) If, at any time after the end of the period of fifteen months from the appointed day (in this Act referred to as “the re-registration period”), a company which is an old public limited company has not re-registered as a public limited company under section 12, the company and any officer of the company who is in default shall be guilty of an offence unless at that time the company—
(a) has applied to be re-registered under section 12 and the application has not been refused or withdrawn; or
(b) has applied to be re-registered as another form of company.
(2) A person guilty of an offence under subsection (1) shall be liable on summary conviction to a fine not exceeding £250 together with, in the case of a continuing offence, a fine not exceeding £25 for every day on which the offence continues, but not exceeding £500 in total.
Re-registration of public limited company as private company.
14.—(1) A public limited company may be re-registered as a private company if—
(a) a special resolution complying with subsection (2) that it should be so re-registered is passed and has not been cancelled by the court under section 15(6);
(b) an application for the purpose in the prescribed form and signed by a director or secretary of the company is delivered to the registrar, together with a printed copy of the memorandum and articles of the company as altered by the resolution; and
(c) the period during which an application for the cancellation of the resolution under section 15(2) may be made has expired without any such application having been made; or
(d) where such an application has been made, the application has been withdrawn or an order has been made under section 15(6) confirming the resolution and a copy of that order has been delivered to the registrar.
(2) The resolution must—
(a) alter the company's memorandum so that it no longer states that the company is to be a public limited company and must make such other alterations in the company's memorandum as are requisite in the circumstances; and
(b) make such alterations in the company's articles as are requisite in the circumstances and in such a manner that they include the provisions which, under section 33 of the Principal Act, are required to be included in the articles of a company in order to constitute it a private company.
(3) If the registrar is satisfied that a public limited company may be re-registered under subsection (1), he shall—
(a) retain the application and other documents delivered to him under that subsection; and
(b) issue the company with a certificate of incorporation appropriate to a private company.
(4) Upon the issue of a certificate of incorporation under subsection (3)—
(a) the company shall by virtue of the issue of that certificate become a private company; and
(b) the alterations in the memorandum and articles set out in the resolution shall take effect accordingly.
(5) A certificate of incorporation issued to a company under subsection (3) shall be conclusive evidence—
(a) that the requirements of this section in respect of re-registration and of matters precedent and incidental thereto have been complied with; and
(b) that the company is a private company.
(6) The re-registration of a public limited company as a private company pursuant to this Act shall not affect any rights or obligations of the company or render defective any legal proceedings by or against the company, and any legal proceedings which might have been continued or commenced against it in its former status may be continued or commenced against it in its new status.
Provisions supplementary to section 14.
15.—(1) This section applies to a special resolution by a public limited company to be re-registered under section 14 as a private company.
(2) Where a special resolution to which this section applies has been passed, an application may be made to the court for the cancellation of that resolution.
(3) An application under subsection (2) may be made—
(a) by the holders of not less in the aggregate than five per cent. in nominal value of the company's issued share capital or any class thereof;
(b) if the company is not limited by shares, by not less than five per cent. of the company's members; or
(c) by not less than 50 of the company's members;
but any such application shall not be made by any person who has consented to or voted in favour of the resolution.
(4) Any such application must be made within 28 days after the passing of the resolution and may be made on behalf of the persons entitled to make the application by such one or more of their number as they may appoint in writing for the purpose.
(5) If an application is made under subsection (2), the company—
(a) shall forthwith give notice of that fact to the registrar; and
(b) where on the hearing of that application an order canceling or confirming the resolution is made under subsection (6), shall, within 15 days from the making of that order, or within such longer period as the court may at any time by order direct, deliver an office copy of the order to the registrar.
(6) On the hearing of an application under subsection (2) the court shall make an order either cancelling or confirming the resolution and—
(a) may make that order on such terms and conditions as it thinks fit, and may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the court for the purchase of the interests of dissentient members; and
(b) may give such directions and make such orders as it thinks expedient for facilitating or carrying into effect any such arrangement.
(7) An order under this section may, if the court thinks fit, provide for the purchase by the company of the shares of any members of the company and for the reduction accordingly of the company's capital and may make such alterations in the memorandum and articles of the company as may be required in consequence of that provision.
(8) Where an order under this section requires the company not to make any, or any specified, alteration in its memorandum or articles, then, notwithstanding anything in the Companies Acts, the company shall not have power without the leave of the court to make any such alteration in breach of that requirement.
(9) Any alteration in the memorandum or articles of the company made by virtue of an order under this section, other than one made by resolution of the company, shall be of the same effect as if duly made by resolution of the company, and the provisions of the Companies Acts shall apply to the memorandum or articles as so altered accordingly.
(10) A company which fails to comply with subsection (5) and any officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £250 together with, in the case of a continuing offence, a fine not exceeding £25 for every day on which the offence continues, but not exceeding £500 in total.
Failure by old public limited company to re-register as another form of company.
16.—(1) Where an old public limited company has within the re-registration period applied for re-registration as a form of company other than a public limited company, and the registrar has notified the company that it has failed to fulfil the requirements for such re-registration, the company and any officer of the company who is in default shall be guilty of an offence unless within a period of 12 months from the end of the re-registration period—
(a) those requirements have been fulfilled and the re-registration has taken place; or
(b) the company has been re-registered in a form other than that for which application was made; or
(c) the company has been wound up voluntarily under section 251 of the Principal Act.
(2) A person guilty of an offence under subsection (1) shall be liable on summary conviction to a fine not exceeding £250 together with, in the case of a continuing offence, a fine not exceeding £25 for every day on which the offence continues, but not exceeding £500 in total.
Limitation on reduction by a public limited company of its allotted share capital.
17.—(1) Subject to subsections (2) and (3), a public limited company may not reduce its allotted share capital below the authorised minimum and section 72(1) of the Principal Act shall be construed accordingly.
(2) Subsection (1) shall not apply to an old public limited company which has been re-registered as a public limited company until expiry of the transitional period for share capital.
(3) Where the court makes an order confirming a reduction of the capital of a public limited company which has the effect of bringing the nominal value of the company's allotted share capital below the authorised minimum, the registrar shall not register the order under section 75(1) of the Principal Act unless the court otherwise directs or the company is first re-registered as another form of company.
(4) A court making any such order in respect of a public limited company may authorise the company to be re-registered as another form of company without its having passed a special resolution and, where the court so authorises a public limited company, the court shall specify in the order the alterations in the company's memorandum and articles to be made in connection with that re-registration.
(5) In its application to a public limited company that applies to be re-registered as a private company in pursuance of an authority given under subsection (4), section 14 shall have effect with the following modifications—
(a) references to the special resolution of the company shall have effect as references to the order of the court under the said subsection (4);
(b) section 14(1) (a), (c) and (d) and (2) shall not apply; and
(c) section 14(3) shall be read as if the words—“If the registrar is satisfied that a public limited company may be re-registered under subsection (1) he shall” were deleted and the following words substituted therefor “On receipt of an application for re-registration under this section made in pursuance of an order of the court under section 17, the registrar shall”.
Registration of joint stock companies.
18.—(1) A joint stock company (within the meaning of section 329 of the Principal Act) applying to be registered in pursuance of Part IX of that Act as a company limited by shares may, subject to satisfying the conditions specified in section 9(5) (a) and (b) (where applicable) and section 10 (1) (a) to (d), as applied by this section, and to complying with the requirements of subsection (4), apply to be so registered as a public limited company.
(2) The said sections 9(5) and 10 shall apply to a joint stock company applying to register under the said Part IX as they apply to a private company applying to be re-registered under section 9, but as if any reference to the special resolution referred to in section 9 were a reference to the resolution referred to in subsection (4) (a).
(3) In the following provisions of this section an application by a company made in pursuance of the said Part IX to register as a public company limited by shares is referred to as a relevant application.
(4) A relevant application shall be made in the prescribed form and shall be delivered to the registrar together with the following documents (as well as with the documents referred to in section 330 of the Principal Act), namely—
(a) a copy of the resolution that the company be a public limited company;
(b) a copy of a written statement by a person, who would be qualified under section 162 of the Principal Act for appointment as auditor of the company if it were a company registered under that Act, that in his opinion a relevant balance sheet shows that at the balance sheet date the amount of the company's net assets was not less than the aggregate of the called-up share capital of the company and its undistributable reserves;
(c) a copy of the relevant balance sheet together with a copy of an unqualified report by such a person in relation to that balance sheet;
(d) a copy of any report prepared under section 9 (5) (b) as applied by this section; and
(e) a statutory declaration in the prescribed form by a director or secretary of the company—
(i) that the conditions specified in section 9 (5) (a) and (b) (where applicable) and section 10(1) (a) to (d) have been satisfied; and
(ii) that, between the balance sheet date referred to in paragraph (b) and the date of the relevant application, there has been no change in the financial position of the company that has resulted in the amount of the company's net assets becoming less than the aggregate of its called-up share capital and undistributable reserves.
(5) The registrar may accept a declaration under subsection (4) (e) as sufficient evidence that the conditions referred to in subparagraph (i) of that paragraph have been satisfied.
(6) Where on a relevant application the registrar is satisfied that the company may be registered as a public company limited by shares, the certificate of incorporation given by him under section 336 of the Principal Act shall state that the company is a public limited company; and such a statement shall be conclusive evidence that the requirements of this section have been complied with and that the company is a public company so limited.
(7) The registration of a joint stock company as a public limited company shall not affect any rights or obligations of the company or render defective any legal proceedings by or against the company, and any legal proceedings which might have been continued or commenced against it in its former status may be continued or commenced against it in its new status.
(8) In this section—
“relevant balance sheet” means, in relation to a company, a balance sheet prepared as at a date not more than seven months before the relevant application;
“undistributable reserves” has the same meaning as in section 46 (2); and
“unqualified report” has the same meaning as in section 9 (13);
and section 9 (11) applies to the making in pursuance of this section of an unqualified report such as is mentioned in that subsection as it applies to the making of such a report in pursuance of the said section 9.
PART III
The capital of a company
Authorised share capital and the issue of share capital
Meaning of “authorised minimum”.
19.—(1) In this Act “the authorised minimum” means £30,000 or such greater sum as may be specified by order made by the Minister under subsection (2).
(2) The Minister may by order specify that the authorised minimum for the purposes of this Act shall be an amount other than £30,000 and such an order may—
(a) require any public limited company having an allotted share capital of which the nominal value is less than the amount specified in the order as the authorised minimum to increase that value to not less than that amount or make an application to be re-registered as another form of company;
(b) make, in connection with any such requirement, provision for any of the matters for which provision is made by any enactment in the Companies Acts relating to a company's registration, re-registration or change of name, to payment for any share comprised in a company's capital and to offers of shares in or debentures of a company to the public, including provision as to the consequences (whether in criminal law or otherwise) of a failure to comply with any requirement of the order; and
(c) contain such supplemental and transitional provision as the Minister thinks appropriate, make different provision for different cases and, in particular, provide for any provision of the order to come into operation on different days for different purposes.
Authority of company required for allotment of certain securities by directors.
20.—(1) The directors of a company shall not exercise any power of the company to allot relevant securities, unless the directors are, in accordance with this section, authorised to do so by—
(a) the company in general meeting; or
(b) the articles of the company.
(2) Authority for the purposes of this section may be given for a particular exercise of that power or for the exercise of that power generally, and may be unconditional or subject to conditions.
(3) Any such authority shall state the maximum amount of relevant securities that may be allotted thereunder and the date on which the authority will expire, which shall be not more than five years from whichever is relevant of the following dates—
(a) in the case of an authority contained at the time of the original incorporation of the company in the articles of the company, the date of that incorporation; and
(b) in any other case, the date on which the resolution is passed by virtue of which that authority is given;but any such authority (including an authority contained in the articles of the company) may be previously revoked or varied by the company in general meeting.
(4) Any such authority (whether or not it has been previously renewed under this subsection) may be renewed by the company in general meeting for a further period not exceeding five years; but the resolution must state (or restate) the amount of relevant securities which may be allotted under the authority or, as the case may be, the amount remaining to be allotted thereunder, and must specify the date on which the renewed authority will expire.
(5) The directors may allot relevant securities, notwithstanding that any authority for the purposes of this section has expired, if the relevant securities are allotted in pursuance of an offer or agreement made by the company before the authority expired and the authority allowed it to make an offer or agreement which would or might require relevant securities to be allotted after the authority expired.
(6) A resolution of a company to give, vary, revoke or renew such an authority may, notwithstanding that it alters the articles of the company, be an ordinary resolution but section 143 of the Principal Act shall apply to it.
(7) Any director who knowingly and wilfully contravenes, or permits or authorises a contravention of, this section shall be guilty of an offence.
(8) Nothing in this section shall affect the validity of any allotment of relevant securities.
(9) This section does not apply to any allotment of relevant securities by a company, other than a public limited company registered as such on its original incorporation, if it is made in pursuance of an offer or agreement made before the date on which the earlier of the following events occurs, that is to say, the holding of the first general meeting of the company after its re-registration or registration as a public limited company and the end of the general transitional period; but any resolution to give, vary or revoke an authority for the purposes of this section shall have effect for those purposes if it is passed at any time after the passing of this Act.
(10) In this section “relevant securities” means, in relation to a company,—
(a) shares in the company other than shares shown in the memorandum to have been taken by the subscribers thereto or shares allotted in pursuance of an employees' share scheme; and
(b) any right to subscribe for, or to convert any security into, shares in the company other than shares so allotted;
and any reference to the allotment of relevant securities shall include a reference to the grant of such a right but shall not include any reference to the allotment of shares pursuant to such a right.
Shares and debentures of private company not to be offered to public.
21.—(1) A private company and any officer of the company who is in default shall be guilty of an offence if the company—
(a) offers to the public (whether for cash or otherwise) any shares in or debentures of the company; or
(b) allots, or agrees to allot, (whether for cash or otherwise) any shares in or debentures of the company with a view to all or any of those shares or debentures being offered for sale to the public.
(2) Sections 51(2) and 61 of the Principal Act shall apply for the purposes of this section as they apply for the purposes of that Act.
(3) Nothing in this section shall affect the validity of any allotment or sale of shares or debentures or of any agreement to allot or sell shares or debentures.
(4) A person guilty of an offence under subsection (1) shall be liable on summary conviction to a fine not exceeding £500.
Document containing offer to state whether shares will be allotted where issue not fully subscribed.
22.—(1) Without prejudice to section 53 of the Principal Act no allotment shall be made of any share capital of a public limited company offered for subscription unless—
(a) that capital is subscribed for in full; or
(b) the offer states that, even if the capital is not subscribed for in full, the amount of that capital subscribed for may be allotted in any event or in the event of the conditions specified in the offer being satisfied;
and, where conditions are so specified, no allotment of the capital shall be made by virtue of paragraph (b) unless those conditions are satisfied.
(2) Section 53 (4) and section 55 of the Principal Act shall apply where shares are prohibited from being allotted by subsection (1) as they apply where the conditions mentioned in subsection (1) of the said section 53 are not complied with; and subsection (5) of the said section 53 shall apply to this section as it applies to that section.
(3) The provisions of this section shall apply in the case of shares offered as wholly or partly payable otherwise than in cash as they apply in the case of shares offered for subscription and—
(a) in subsection (1), the word “subscribed” shall be construed accordingly; and
(b) in the said section 53 (4), as it applies by virtue of subsection (2) to the former case, references to the repayment of money received from applicants for shares shall include references to the return of any other consideration so received (including, if the case so requires, the release of the applicant from any undertaking) or, if it is not reasonably practicable to return the consideration, the payment of money equal to the value of the consideration at the time it was so received, and references to interest shall have effect accordingly.
Pre-emption rights
Pre-emption rights.
23.—(1) Subject to the following provisions of this section and sections 24 and 25, a company proposing to allot any equity securities—
(a) shall not allot any of those securities on any terms to any person unless it has made an offer to each person who holds relevant shares or relevant employee shares to allot to him on the same or more favourable terms a proportion of those securities which is as nearly as practicable equal to the proportion in nominal value held by him of the aggregate of relevant shares and relevant employee shares; and
(b) shall not allot any of those securities to any person unless the period during which any such offer may be accepted has expired or the company has received notice of the acceptance or refusal of every offer so made.
(2) Subsection (3) applies to any provision of the memorandum or articles of a company which requires the company, when proposing to allot equity securities consisting of relevant shares of any particular class, not to allot those securities on any terms unless it has complied with the condition that it makes such an offer as is described in subsection (1) to each person who holds relevant shares or relevant employee shares of that class.
(3) If, in accordance with a provision to which this subsection applies—
(a) a company makes an offer to allot any securities to such a holder; and
(b) he or anyone in whose favour he has renounced his right to their allotment accepts the offer,
subsection (1) shall not apply to the allotment of those securities and the company may allot them accordingly; but this subsection is without prejudice to the application of subsection (1) in any other case.
(4) Subsection (1) shall not apply in relation to a particular allotment of equity securities if the securities are, or are to be, wholly or partly paid up otherwise than in cash.
(5) Securities which a company has offered to allot to a holder of relevant shares or relevant employee shares may be allotted to him or anyone in whose favour he has renounced his right to their allotment without contravening subsection (1) (b).
(6) Subsection (1) shall not apply in relation to the allotment of any securities which would apart from a renunciation or assignment of the right to their allotment be held under an employees' share scheme.
(7) An offer which is required by subsection (1) or by any provision to which subsection (3) applies to be made to any person shall be made by serving it on him in the manner in which notices are authorised to be given by regulations 133, 134 and 135 of Table A; but where he is the holder of a share warrant the offer may instead be made by causing the offer, or a notice specifying where a copy of the offer can be obtained or inspected, to be published in Iris Oifigiúil.
(8) Any such offer as is mentioned in subsection (7) must state a period of not less than 21 days during which the offer may be accepted; and the offer shall not be withdrawn before the end of that period.
(9) Subsections (7) and (8) shall not invalidate a provision to which subsection (3) applies by reason that that provision requires or author-ises an offer thereunder to be made in contravention of one or both of those subsections, but, to the extent that the provision requires or authorises such an offer to be so made, it shall be of no effect.
(10) Subsection (1), (7) or (8) may, in its application in relation to allotments by a private company of equity securities or to such allotments of a particular description, be excluded by a provision contained in the memorandum or articles of that company; and a requirement or authority contained in the memorandum or articles of a private company shall, if it is inconsistent with any of those subsections, have effect as a provision excluding that subsection, but a provision to which subsection (3) applies shall not be treated as being inconsistent with subsection (1).
(11) Where there is a contravention of subsections (1), (7) or (8) or of a provision to which subsection (3) applies, the company, and every officer of the company who knowingly authorised or permitted the contravention, shall be jointly and severally liable to compensate any person to whom an offer should have been made under the subsection or provision contravened for any loss, damage, costs or expenses which that person has sustained or incurred by reason of the contravention; but no proceedings to recover any such loss, damage, costs or expenses shall be commenced after the expiration of two years from the delivery to the registrar of companies of the return of allotments in question or, where equity securities other than shares are granted, from the date of the grant.
(12) In relation to any offer to allot any securities required by subsection (1) or by any provision to which subsection (3) applies, references in this section (however expressed) to the holder of shares of any description shall be read as including references to any person who held shares of that description on any day within the period of twenty-eight days ending with the day immediately preceding the date of the offer.
(13) In this section and sections 24 and 25—
“equity security”, in relation to a company, means a relevant share in the company (other than a share shown in the memorandum to have been taken by a subscriber thereto or a bonus share) or a right to subscribe for, or to convert any securities into, relevant shares in the company, and references to the allotment of equity securities or of equity securities consisting of relevant shares of a particular class shall include references to the grant of a right to subscribe for, or to convert any securities into, relevant shares in the company or, as the case may be, relevant shares of a particular class, but shall not include references to the allotment of any relevant shares pursuant to such a right;
“relevant employee shares”, in relation to a company, means shares of the company which would be relevant shares in the company but for the fact that they are held by a person who acquired them in pursuance of an employees' share scheme; and
“relevant shares”, in relation to a company, means shares in the company other than—
(a) shares which as respects dividends and capital carry a right to participate only up to a specified amount in a distribution; and
(b) shares which are held by a person who acquired them in pursuance of an employees' share scheme, or, in the caseof shares which have not been allotted, are to be allotted in pursuance of such a scheme;
and any reference to a class of shares shall be construed as a reference to shares to which the same rights are attached as to voting and as to participation, both as respects dividends and as respects capital, in a distribution.
Further provisions relating to pre-emption rights.
24.—(1) Where the directors of a company are generally authorised for the purposes of section 20, they may be given power by the articles or by a special resolution of the company to allot equity securities pursuant to that authority as if—
(a) section 23 (1) did not apply to the allotment;
or
(b) that subsection applied to the allotment with such modifications as the directors may determine;
and where the directors make an allotment under this subsection, the said section 23 shall have effect accordingly.
(2) Where the directors of a company are authorised for the purposes of section 20 (whether generally or otherwise), the company may by special resolution resolve either—
(a) that section 23 (1) shall not apply to a specified allotment of equity securities to be made pursuant to that authority; or
(b) that that subsection shall apply to the allotment with such modifications as may be specified in the resolution;
and where such a resolution is passed the said section 23 shall have effect accordingly.
(3) A power conferred by virtue of subsection (1) or a special resolution under subsection (2) shall cease to have effect when the authority to which it relates is revoked or would, if not renewed, expire, but if that authority is renewed, the power or, as the case may be, the resolution may also be renewed, for a period not longer than that for which the authority is renewed, by a special resolution of the company.
(4) Notwithstanding that any such power or resolution has expired, the directors may allot equity securities in pursuance of an offer or agreement previously made by the company, if the power or resolution enabled the company to make an offer or agreement which would or might require equity securities to be allotted after it expired.
(5) A special resolution under subsection (2), or a special resolution to renew such a resolution, shall not be proposed unless it is recommended by the directors and there has been circulated, with the notice of the meeting at which the resolution is proposed, to the members entitled to have that notice a written statement by the directors setting out—
(a) their reasons for making the recommendation;
(b) the amount to be paid to the company in respect of the equity securities to be allotted; and
(c) the directors' justification of that amount.
(6) A person who knowingly or recklessly authorises or permits the inclusion in a statement circulated under subsection (5) of any matter which is misleading, false or deceptive in a material particular shall be guilty of an offence.
Transitional provisions relating to pre-emption rights.
25.—(1) Sections 23 and 24 shall not apply—
(a) to any allotment of equity securities made by a company, other than a public limited company registered as such on its original incorporation, before the date on which the earlier of the following events occurs, that is to say, the holding of the first general meeting of the company after its re-registration or registration as a public limited company and the end of the general transitional period; or
(b) where subsection (2) applies, to an allotment of the equity securities which are subject to the requirement mentioned in that subsection.
(2) This subsection applies where any company which is re-registered or registered as a public limited company is or, but for the provisions of this Act, would be subject at the time of re-registration or, as the case may be, registration to a requirement imposed (whether by the company's memorandum or articles or otherwise) before the relevant time by virtue of which it must, when making an allotment of equity securities, make an offer to allot those securities or some of them in a manner which (otherwise than by virtue of its involving a contravention of section 23 (7) or (8)) is inconsistent with section 23.
(3) Any requirement which—
(a) is imposed on a private company before the relevant time otherwise than by the company's memorandum or articles; and
(b) if contained in the memorandum or articles of the company, would have effect by virtue of section 23 (10) to the exclusion of any provision of that section,
shall have effect, so long as the company remains a private company, as if it were contained in the memorandum or articles of the company.
(4) If at the relevant time a company, other than a public limited company registered as such on its original incorporation, is subject to a requirement such as is mentioned in section 23 (2) and which was imposed otherwise than by the company's memorandum or articles, the requirement shall be treated for the purposes of that section as if it were contained in the company's memorandum or articles.
(5) In this section “the relevant time” means—
(a) except in a case falling within paragraph (b), the end of the general transitional period;
and
(b) in the case of a company which is re-registered or registered as a public limited company in pursuance of an application made before the end of that period, the time at which the application is made.
Payment for share capital
Subscription of share capital.
26.—(1) Subject to the following provisions of this Part, shares allotted by a company and any premium payable on them may be paid up in money or money's worth (including goodwill and expertise).
(2) A public limited company shall not accept at any time in payment up of its shares or any premium on them, an undertaking given by any person that he or another should do work or perform services for the company or any other person.
(3) Where a public limited company accepts such an undertaking as payment up of its shares or any premium payable on them, the holder of the shares when they or the premium are treated as paid up, in whole or in part, by the undertaking—
(a) shall be liable to pay the company in respect of those shares an amount equal to their nominal value, together with the whole of any premium or, if the case so requires, such proportion of that amount as is treated as paid up by the undertaking; and
(b) shall be liable to pay interest at the appropriate rate on the amount payable under paragraph (a).
(4) Where any person becomes a holder of any shares in respect of which—
(a) there has been a contravention of this section; and
(b) by virtue of that contravention, another is liable to pay any amount under this section,
that person also shall be liable to pay that amount (jointly and severally with any other person so liable) unless either he is a purchaser for value and, at the time of the purchase, he did not have actual notice of the contravention or he derived title to the shares (directly or indirectly) from a person who became a holder of them after the contravention and was not so liable.
(5) Subsection (1) shall not prevent a company from allotting bonus shares in the company to its members or from paying up, with sums available for the purpose, any amounts for the time being unpaid on any of its shares (whether on account of the nominal value of the shares or by way of premium).
(6) References in this section to a holder, in relation to any shares in a company, include references to any person who has an unconditional right to be included in the company's register of members in respect of those shares or to have an instrument of transfer of the shares executed in his favour.
Prohibition on allotment of shares at a discount.
27.—(1) Subject to subsection (4) the shares of a company shall not be allotted at a discount.
(2) Where shares are allotted in contravention of subsection (1), the allottee shall be liable to pay the company an amount equal to the amount of the discount and shall be liable to pay interest thereon at the appropriate rate.
(3) Section 26(4) shall apply for the purposes of this section as it applies for the purposes of that section.
(4) The repeal of section 63 of the Principal Act effected by section 3(2) shall not affect an application for an order sanctioning the issue of shares at a discount which has been made to the court under that section and which has not been withdrawn or disposed of before the appointed day, or an order made on or after that day in pursuance of any such application, and—
(a) any such application may be proceeded with and any such order, if not made before the appointed day, may be made as if that section had not been repealed; and
(b) shares may be allotted at a discount in accordance with any such order (whether made, before, on or after the appointed day) accordingly.
Payment for allotted shares.
28.—(1) Subject to subsection (4), a public limited company shall not allot a share except as paid up at least as to one-quarter of the nominal value of the share and the whole of any premium on it.
(2) Where a public limited company allots a share in contravention of subsection (1), the share shall be treated as if one-quarter of its nominal value together with the whole of any premium had been received, but the allottee shall be liable to pay the company the minimum amount which should have been received in respect of the share under that subsection less the value of any consideration actually applied in payment up (to any extent) of the share and any premium on it, and interest at the appropriate rate on the amount payable under this subsection.
(3) Subsection (2) shall not apply in relation to the allotment of a bonus share in contravention of subsection (1) unless the allottee knew or ought to have known the share was so allotted.
(4) Subsections (1) to (3) shall not apply to shares allotted in pursuance of an employees' share scheme.
(5) Section 26(4) shall apply for the purposes of this section as it applies for the purposes of that section.
Payment of non-cash consideration.
29.—(1) A public limited company shall not allot shares as fully or partly paid up (as to their nominal value or any premium payable on them) otherwise than in cash if the consideration for the allotment is or includes an undertaking which is to be or may be performed more than five years after the date of the allotment.
(2) Where a public limited company allots shares in contravention of subsection (1), the allottee of the shares shall be liable to pay the company an amount equal to their nominal value, together with the whole of any premium, or, if the case so requires, such proportion of that amount as is treated as paid up by the undertaking and shall be liable to pay interest at the appropriate rate on the amount payable under this subsection.
(3) Where a contract for the allotment of shares does not contravene subsection (1), any variation of the contract which has the effect that the contract would have contravened that subsection if the terms of the contract as varied had been its original terms shall be void.
(4) Subsection (3) shall apply to the variation by a public limited company of the terms of a contract entered into before the company was registered or re-registered as a public limited company.
(5) Where a public limited company allots shares for a consideration which consists of or includes (in accordance with subsection (1)) an undertaking which is to be performed within five years of the allotment but that undertaking is not performed within the period allowed by the contract for the allotment of the shares, the allottee of the shares in question shall be liable to pay the company at the end of that period an amount equal to the nominal value of the shares, together with the whole of any premium, or, if the case so requires, such proportion of that amount as is treated as paid up by the undertaking, together with interest at the appropriate rate on the amount payable under this subsection.
(6) Section 26 (4) shall apply in relation to a contravention of this section and to a failure to carry out a term of a contract as mentioned in subsection (5) as it applies in relation to a contravention of that section.
(7) Any reference in this section to a contract for the allotment of shares includes a reference to an ancillary contract relating to payment in respect of those shares.
Experts' reports on non-cash consideration before allotment of shares.
30.—(1) Subject to subsection (2), a public limited company shall not allot shares as fully or partly paid up (as to their nominal value or any premium payable on them) otherwise than in cash unless—
(a) the consideration for the allotment has been valued in accordance with the following provisions of this section;
(b) a report with respect to its value has been made to the company by a person appointed by the company in accordance with those provisions during the six months immediately preceding the allotment of the shares; and
(c) a copy of the report has been sent to the proposed allottee of the shares.
(2) Subject to subsection (3), subsection (1) shall not apply to the allotment of shares by a company in connection with—
(a) an arrangement providing for the allotment of shares in that company on terms that the whole or part of the consideration for the shares allotted is to be provided by the transfer to that company or the cancellation of all or some of the shares, or of all or some of the shares of a particular class, in another company (with or without the issue to that company of shares, or of shares of any particular class, in that other company); or
(b) a proposed merger of that company with another company.
(3) Subsection (2) (a) does not exclude the application of subsection (1) to the allotment of shares by a company in connection with any such arrangement as is there mentioned unless it is open to all the holders of the shares in the other company in question or, where the arrangement applies only to shares of a particular class, to all the holders of shares in that other company of that class, to take part in the arrangement. In determining whether that is the case, shares heldby or by a nominee of the company proposing to allot the shares in connection with the arrangement, or by or by a nominee of a company which is that company's holding company or subsidiary or a company which is a subsidiary of its holding company, shall be disregarded.
(4) For the purposes of subsection (2) (b) there is a proposed merger of two companies when one of them proposes to acquire all the assets and liabilities of the other in exchange for the issue of shares or other securities in that one to shareholders of the other, with or without any cash payment to those shareholders.
(5) The valuation and report required by subsection (1) shall be made by an independent person, that is to say, a person qualified at the time of the report to be appointed or to continue to be auditor of the company, except that where it appears to him to be reasonable for the valuation of the consideration, or a valuation of part of the consideration, to be made, or to accept such a valuation made, by any person who—
(a) appears to him to have the requisite knowledge and experience to value the consideration or that part of the consideration; and
(b) is not an officer or servant of the company or any other body corporate which is that company's subsidiary or holding company or a subsidiary of that company's holding company or a partner or employee of such an officer or servant,
that independent person may arrange for or accept such a valuation, together with a report which will enable him to make his own report under that subsection and provide a note in accordance with subsection (8).
(6) The independent person's report under subsection (1) shall state—
(a) the nominal value of the shares to be wholly or partly paid for by the consideration in question;
(b) the amount of any premium payable on those shares;
(c) the description of the consideration and, as respects so much of the consideration as he himself has valued, a description of that part of the consideration, the method used to value it and the date of the valuation; and
(d) the extent to which the nominal value of the shares and any premium are to be treated as paid up—
(i) by the consideration;
(ii) in cash.
(7) Where any consideration is valued under this section by a person other than the independent person, the latter's report under subsection (1) shall state that fact and shall also—
(a) state the former's name and what knowledge and experience he has to carry out the valuation; and
(b) describe so much of the consideration as was valued by that other person, the method used to value it and state the date of valuation.
(8) The report of the independent person made under subsection (1) shall contain or be accompanied by a note by him—
(a) in the case of a valuation made by another person, that it appeared to the independent person reasonable to arrange for it to be so made, or to accept a valuation so made;
(b) whoever made the valuation, that the method of valuation was reasonable in all the circumstances;
(c) that it appears to the independent person that there has been no material change in the value of the consideration in question since the valuation; and
(d) that on the basis of the valuation the value of the consideration, together with any cash by which the nominal value of the shares or any premium payable on them is to be paid up, is not less than so much of the aggregate of the nominal value and the whole of any such premium as is treated as paid up by the consideration and any such cash.
(9) Subsection (10) applies where a public limited company allots any share in contravention of subsection (1) and either—
(a) the allottee has not received a report under this section; or
(b) there has been some other contravention of this section and the allottee knew or ought to have known that it amounted to a contravention.
(10) Where this subsection applies, the allottee shall be liable to pay the company an amount equal to the nominal value of the shares, together with the whole of any premium or, if the case so requires, such proportion of that amount as is treated as paid up by the consideration, and shall be liable to pay interest at the appropriate rate on the amount payable under this subsection.
(11) Section 26 (4) shall apply for the purposes of this section as it applies for the purposes of that section.
(12) Where the consideration is accepted partly in payment up of the nominal value of the shares and any premium and partly for some other consideration given by the company, the provisions of this section shall apply as if references to the consideration accepted by the company included references to the proportion of that consideration which is properly attributable to the payment up of that value and any premium; and
(a) the independent person shall carry out or arrange for such other valuations as will enable him to determine that proportion; and
(b) his report under subsection (1) shall state what valuations have been made by virtue of this subsection and also the reason for and method and date of any such valuation and any other matters which may be relevant to that determination.
(13) It is hereby declared for the avoidance of doubt that subsection (1) does not apply by reference to the application of an amount for the time being standing to the credit of any of the company's reserve accounts or to the credit of its profit and loss account in paying up (to any extent) any shares allotted to members of the company or any premiums on any shares so allotted; and in relation to any such allotment references in this section to the consideration for the allotment do not include any such amount so applied.
(14) In this section—
(a) “arrangement” means any agreement, scheme or arrangement (including an arrangement sanctioned in accordance with section 201 or 260 of the Principal Act);
(b) any reference to a company, except where it is or is to be construed as a reference to a public limited company, includes a reference to any body corporate and any body to which letters patent have been issued under the Chartered Companies Act, 1837; and
(c) any reference to an officer or servant shall not include a reference to an auditor.
Experts' reports: supplementary.
31.—(1) Any person carrying out a valuation or making a report under section 30 with respect to any consideration proposed to be accepted or given by a company shall be entitled to require from the officers of the company such information and explanation as he thinks necessary to enable him to carry out the valuation or to make the report and provide a note, under that section.
(2) A company to which such a report is made as to the value of any consideration for which, or partly for which, it proposes to allot shares shall deliver a copy of the report to the registrar of companies for registration at the same time that it files the return of the allotments of those shares under section 58 of the Principal Act, and subsections (3) and (4) of that section shall apply to a default in complying with this subsection as they apply to a default in complying with that section.
(3) Any person who knowingly or recklessly makes a statement which—
(a) is misleading, false or deceptive in a material particular, and
(b) is a statement to which this subsection applies,
shall be guilty of an offence.
(4) Subsection (3) applies to any statement made (whether orally or in writing) to any person carrying out a valuation or making a report under section 30, being a statement which conveys or purports to convey any information or explanation which that person requires, or is entitled to require, under subsection (1).
Experts' reports on non-cash assets acquired from subscribers, etc.
32.—(1) A public limited company, other than a company re-registered under section 12, shall not, unless the conditions mentioned in subsection (3) have been complied with, enter into an agreement with a relevant person for the transfer by him during the initial period of one or more non-cash assets to the company or another for a consideration to be given by the company equal in value at the time of the agreement to at least one-tenth of the nominal value of the company's share capital issued at that time.
(2) In this section—
(a) in relation to a company formed as a public limited company, “relevant person” means any subscriber to the memorandum of the company and “initial period” means the period of two years beginning with the date on which the company is issued with a certificate under section 6 that it is entitled to do business;
(b) in relation to a company re-registered, or registered in accordance with section 18, as a public limited company, “relevant person” means any person who was a member of the company on the date of the re-registration or registration and “initial period” means the period of two years beginning with that date.
(3) The conditions referred to in subsection (1) are that—
(a) the consideration to be received by the company (that is to say, the asset to be transferred to the company or the advantage to the company of its transfer to another person) and any consideration other than cash to be given by the company have been valued under the following provisions of this section (without prejudice to any requirement to value any consideration under section 30);
(b) a report with respect to the consideration to be so received and given has been made to the company in accordance with those provisions during the six months immediately preceding the date of the agreement;
(c) the terms of the agreement have been approved by an ordinary resolution of the company; and
(d) not later than the giving of the notice of the meeting at which the resolution is proposed, copies of the resolution and report have been circulated to the members of the company entitled to receive that notice and, if the relevant person is not then such a member, to that person.
(4) Subsection (1) shall not apply to the following agreements for the transfer of an asset for a consideration to be given by the company, that is to say—
(a) where it is part of the ordinary business of the company to acquire or arrange for other persons to acquire assets of a particular description, an agreement entered into by the company in the ordinary course of its business for the transfer of an asset of that description to it or such a person, as the case may be; or
(b) an agreement entered into by the company under the supervision of the court or an officer authorised by the court for the purpose, for the transfer of an asset to the company or to another.
(5) Section 30 (5) and (7) shall apply to a valuation and report of any consideration under this section as those subsections apply to a valuation of and report on any consideration under subsection (1) of that section.
(6) The report of the independent person under this section shall—
(a) state the consideration to be received by the company, describing the asset in question, specifying the amount to be received in cash, and the consideration to be given by the company, specifying the amount to be given in cash;
(b) state the method and date of valuation;
(c) contain or be accompanied by a note as to the matters mentioned in section 30 (8) (a) to (c); and
(d) contain or be accompanied by a note that on the basis of the valuation the value of the consideration to be received by the company is not less than the value of the consideration to be given by it.
(7) If a public limited company enters into an agreement with any relevant person in contravention of subsection (1) and either he has not received a report under this section or there has been some other contravention of this section or section 30 (5) or (7) which he knew or ought to have known amounted to a contravention, then, subject to subsection (8)—
(a) the company shall be entitled to recover from the relevant person any consideration given by the company under the agreement or an amount equivalent to its value at the time of the agreement; and
(b) the agreement, so far as not carried out, shall be void.
(8) Where a company enters into an agreement in contravention of subsection (1) and that agreement is or includes an agreement for the allotment of shares in that company, then, whether or not the agreement also contravenes section 30—
(a) subsection (7) shall not apply to the agreement insofar as it is an agreement for the allotment of shares; and
(b) section 26 (4) and section 30 (10) shall apply in relation to the shares as if they had been allotted in contravention of section 30.
Provisions supplementary to section 32.
33.—(1) Any person carrying out a valuation or making a report under section 32 shall be entitled to require from the officers of the company such information and explanation as he thinks necessary to enable him to carry out the valuation or make the report and provide the note required by that section; and section 31(3) shall apply in relation to any such valuation and report as it applies in relation to a valuation and report under section 30 (1) with the substitution of a reference to this subsection for the reference in section 31(4) to section 31 (1).
(2) A company which has passed a resolution under section 32 with respect to the transfer of an asset shall, within 15 days of the passing of the resolution, deliver to the registrar of companies a copy of the resolution together with the report required by that section and, if it fails to do so, the company and every officer of the company who is in default shall be liable on summary conviction to a fine not exceeding £250 together with, in the case of a continuing offence, a fine not exceeding £25 for every day on which the offence continues, but not exceeding £500 in total.
(3) Any reference in section 32 or this section to consideration given for the transfer of an asset includes a reference to consideration given partly for its transfer but—
(a) the value of any consideration partly so given shall be taken to be the proportion of that consideration properly attributable to its transfer;
(b) the independent person shall carry out or arrange for such valuations of anything else as will enable him to determine that proportion; and
(c) his report under that section shall state what valuation has been made by virtue of this paragraph and also the reason for and method and date of any such valuation and any other matters which may be relevant to that determination.
Relief.
34.—(1) Where any person is liable to a company under section 26, 29, 30 or 32 in relation to payment in respect of any shares in the company or is liable by virtue of any undertaking given to the company in, or in connection with, payment for any such shares, the person so liable may make an application to the court under this subsection to be exempted in whole or in part from that liability.
(2) Where the liability mentioned in subsection (1) arises under any of those sections in relation to payment in respect of any shares, the court may, on an application under that subsection, exempt the applicant from that liability only—
(a) if and to the extent that it appears to the court just and equitable to do so having regard to the following, namely—
(i) whether the applicant has paid, or is liable to pay, any amount in respect of any other liability arising in relation to those shares under any of those sections or of any liability arising by virtue of any undertaking given in or in connection with payment for those shares;
(ii) whether any person other than the applicant has paid or is likely to pay (whether in pursuance of an order of the court or otherwise) any such amount; and
(iii) whether the applicant or any other person has performed, in whole or in part, or is likely so to perform any such undertaking or has done or is likely to do any other thing in payment or part payment in respect of those shares;
(b) if and to the extent that it appears to the court just and equitable to do so in respect of any interest which he is liable to pay to the company under any of those sections.
(3) Where the liability mentioned in subsection (1) arises by virtue of an undertaking given to the company in, or in connection with, payment for any shares in the company, the court may, on an application under that subsection, exempt the applicant from that liability only if and to the extent that it appears to the court just and equitable to do so having regard to the following, namely—
(a) whether the applicant has paid or is liable to pay any amount in respect of any liability arising in relation to those shares under section 26, 29, 30 or 32; and
(b) whether any person other than the applicant has paid or is likely to pay (whether in pursuance of an order of the court or otherwise) any such amount.
(4) In determining in pursuance of an application under subsection (1) whether it should exempt the applicant in whole or in part from any liability, the court shall have regard to the following overriding principles, namely—
(a) that a company which has allotted shares should receive money or money's worth at least equal in value to the aggregate of the nominal value of those shares and the whole of any premium or, if the case so requires, so much of that aggregate as is treated as paid up; and
(b) subject to paragraph (a), that where such a company would, if the court did not grant that exemption, have more than one remedy against a particular person, it should be for the company to decide which remedy it should remain entitled to pursue.
(5) Where a person brings any proceedings against another (“the contributor”) for a contribution in respect of any liability to a company arising under any of sections 26 to 30 and 32 and it appears to the court that the contributor is liable to make such a contribution, the court may, if and to the extent that it appears to the court, having regard to the respective culpability in respect of the liability to the company of the contributor and the person bringing the proceedings, that it is just and equitable to do so—
(a) exempt the contributor in whole or in part from his liability to make such a contribution; or
(b) order the contributor to make a larger contribution than, but for this subsection, he would be liable to make.
(6) Where a person is liable to a company by virtue of section 32(7)(a), the court may, on an application under this subsection, exempt that person in whole or in part from that liability if and to the extent that it appears to the court just and equitable to do so having regard to any benefit accruing to the company by virtue of anything done by that person towards the carrying out of the agreement mentioned in that subsection.
Special provisions as to issue of shares to subscribers.
35.—Any shares taken by a subscriber to the memorandum of a public limited company in pursuance of an undertaking of his in the memorandum and any premium on the shares shall be paid up in cash.
Contravention of sections 26 to 35.
36.—(1) Where a company contravenes any of the provisions of sections 26 to 30, 32 and 35, the company and any officer of the company who is in default shall be guilty of an offence.
(2) Subject to section 34, an undertaking given by any person in or in connection with payment for shares in a company to do work or perform services or to do any other thing shall, if it is enforceable by the company apart from this Act, be so enforceable notwithstanding that there has been a contravention in relation thereto of section 26, 29 or 30 and where such an undertaking is given in contravention of section 32 in respect of the allotment of any shares it shall be so enforceable notwithstanding that contravention.
Application of sections 26 to 36 in special cases.
37.—(1) Subject to subsection (2), sections 26, 28 to 31 and 34 to 36 shall apply—
(a) to a company which has passed and not revoked a special resolution to be re-registered under section 9 or section 11;
(b) to a company whose directors have passed and not revoked a resolution to be re-registered under section 12; and
(c) to a joint stock company (within the meaning of section 329 of the Principal Act) which has passed and not revoked a resolution that the company be a public limited company;
as those sections apply to a public limited company.
(2) Section 26 and sections 28 to 31 shall not apply to the allotment of shares by a company, other than a public limited company registered as such on its original incorporation, where the contract for their allotment was entered into—
(a) except in a case falling within paragraph (b), before the end of the general transitional period;
(b) in the case of a company re-registered or registered as a public limited company in pursuance of a resolution of any description mentioned in subsection (1) that is passed before the end of that period, before the date on which that resolution is passed.
Class rights
Variation of rights attached to special classes of shares.
38.—(1) This section shall have effect with respect to the variation of the rights attached to any class of shares in a company whose share capital is divided into shares of different classes.
(2) Where the rights are attached to a class of shares in the company otherwise than by the memorandum, and the articles of the company do not contain provision with respect to the variation of the rights, those rights may be varied if, but only if—
(a) the holders of three-quarters in nominal value of the issued shares of that class consent in writing to the variation; or
(b) a special resolution passed at a separate general meeting of the holders of that class sanctions the variation;
and any requirement (howsoever imposed) in relation to the variation of those rights is complied with to the extent that it is not comprised in paragraphs (a) and (b).
(3) Where—
(a) the rights are attached to a class of shares in the company by the memorandum or otherwise;
(b) the memorandum or articles contain provision for the variation of those rights; and
(c) the variation of those rights is connected with the giving, variation, revocation or renewal of an authority for the purposes of section 20 or with a reduction of the company's share capital under section 72 of the Principal Act,
those rights shall not be varied unless—
(i) the condition mentioned in subsection (2) (a) or (b) is satisfied; and
(ii) any requirement of the memorandum or articles in relation to the variation of rights of that class is complied with to the extent that it is not comprised in the condition in subparagraph (i).
(4) Where the rights are attached to a class of shares in the company by the memorandum or otherwise and—
(a) where they are so attached by the memorandum, the articles contain provision with respect to their variation which had been included in the articles at the time of the company's original incorporation; or
(b) where they are so attached otherwise, the articles contain such provision (whenever first so included);
and in either case the variation is not connected as mentioned in subsection (3) (c), those rights may only be varied in accordance with that provision of the articles.
(5) Where the rights are attached to a class of shares in the company by the memorandum and the memorandum and articles do not contain provision with respect to the variation of the rights, those rights may be varied if all the members of the company agree to the variation.
(6) The provisions of sections 133 and 134 of the Principal Act and the provisions of the articles relating to general meetings shall, so far as applicable, apply in relation to any meeting of shareholders required by this section or otherwise to take place in connection with the variation of the rights attached to a class of shares, and shall so apply with the necessary modifications and subject to the following provisions, namely—
(a) the necessary quorum at any such meeting other than an adjourned meeting shall be two persons holding or representing by proxy at least one-third in nominal value of the issued shares of the class in question and at an adjourned meeting one person holding shares of the class in question or his proxy;
(b) any holder of shares of the class in question present in person or by proxy may demand a poll.
(7) Any alteration of a provision contained in the articles of a company for the variation of the rights attached to a class of shares or the insertion of any such provision into the company's articles shall itself be treated as a variation of those rights.
(8) Section 78 of the Principal Act shall apply in relation to subsection (2) as it applies in relation to a provision of the memorandum or articles of a company to the like effect.
(9) In this section and, except where the context otherwise requires,in any provision for the variation of the rights attached to a class of shares contained in the company's memorandum or articles references to the variation of those rights shall include references to their abrogation.
(10) Nothing in subsections (2) to (5) shall be construed as derogating from the powers of the court under section 15 or any of the following sections of the Principal Act, that is to say, sections 10, 201, 203 and 205.
(11) This section shall not apply in relation to any variation made by a company, other than a public limited company registered as such on its original incorporation, before the date on which the earlier of the following events occurs, that is to say, the re-registration or registration of the company as a public limited company and the end of the general transitional period.
Registration of particulars of special rights.
39.—(1) Where a company allots shares with rights which are not stated in its memorandum or articles or in any resolution or agreement to which section 143 of the Principal Act applies, the company shall, unless the shares are in all respects uniform with shares previously allotted, deliver to the registrar of companies within one month from allotting the shares a statement in the prescribed form containing particulars of those rights.
(2) Shares allotted with such rights shall not be treated for the purposes of subsection (1) as different from shares previously allotted by reason only of the fact that the former do not carry the same rights to dividends as the latter during the twelve months immediately following the former's allotment.
(3) Where the rights attached to any shares of a company are varied otherwise than by an amendment of the company's memorandum or articles or by resolution or agreement to which the said section 143 applies, the company shall within one month from the date on which the variation is made deliver to the registrar of companies a statement in the prescribed form containing particulars of the variation.
(4) Where a company (otherwise than by any such amendment, resolution or agreement as is mentioned in subsection (3)) assigns a name or other designation, or a new name or other designation, to any class of its shares it shall within one month from doing so deliver to the registrar of companies a notice in the prescribed form giving particulars thereof.
(5) If a company fails to comply with this section, the company and every officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £250 together with, in the case of a continuing offence, a fine not exceeding £25 for every day on which the offence continues but not exceeding £500 in total.
Maintenance of capital
Obligation to convene extraordinary general meeting in event of serious loss of capital.
40.—(1) Subject to subsection (4), where the net assets of a company are half or less of the amount of the company's called-up share capital, the directors of the company shall, not later than 28 days from the earliest day on which that fact is known to a director of the company, duly convene an extraordinary general meeting of the company for a date not later than 56 days from that day for thepurpose of considering whether any, and if so what, measures should be taken to deal with the situation.
(2) If there is a failure to convene an extraordinary general meeting of a company as required by subsection (1), each of the directors of the company who—
(a) knowingly and wilfully authorises or permits that failure; or
(b) after the expiry of the period during which that meeting should have been convened, knowingly and wilfully authorises or permits that failure to continue,
shall be guilty of an offence.
(3) Nothing in this section shall be taken as authorising the consideration, at a meeting convened in pursuance of subsection (1), of any matter which could not have been considered at that meeting apart from this section.
(4) This section shall not apply where the day mentioned in subsection (1) is before the appointed day.
Restriction on company acquiring its own shares.
41.—(1) Subject to the following provisions of this section, no company limited by shares or limited by guarantee and having a share capital shall acquire its own shares (whether by purchase, subscription or otherwise).
(2) A company limited by shares may acquire any of its own fully paid shares otherwise than for valuable consideration.
(3) If a company purports to act in contravention of this section the company and every officer of the company who is in default shall be guilty of an offence and the purported acquisition shall be void.
(4) Subsection (1) shall not apply in relation to—
(a) the redemption of preference shares in pursuance of the articles;
(b) the acquisition of any shares in a reduction of capital duly made;
(c) the purchase of any shares in pursuance of an order of the court under section 15 or under section 10 or section 205 of the Principal Act; or
(d) the forfeiture of any shares, or the acceptance of any shares surrendered in lieu, in pursuance of the articles for failure to pay any sum payable in respect of those shares.
Acquisition of shares in a company by company's nominee.
42.—(1) Subject to subsections (5) and (6), where shares are issued to a nominee of a company referred to in section 41 (1) or are acquired by a nominee of such a company from a third party as partly paid up, then, for all purposes the shares shall be treated as held by the nominee on his own account and the company shall be regarded as having no beneficial interest in them.
(2) Subject to subsection (6), if a person is called on to pay any amount for the purpose of paying up, or paying any premium on, any shares in any such company which were issued to him, or which he otherwise acquired, as the nominee of the company and he fails to pay that amount within 21 days from being called on to do so, then—
(a) if the shares were issued to him as a subscriber to the memorandum by virtue of an undertaking of his in the memorandum, the other subscribers to the memorandum; or
(b) if the shares were otherwise issued to or acquired by him, the directors of the company at the time of the issue or acquisition,
shall be jointly and severally liable with him to pay that amount.
(3) If in proceedings for the recovery of any such amount from any such subscriber or director under this section it appears to the court that he is or may be liable to pay that amount, but that he has acted honestly and reasonably and that, having regard to all the circumstances of the case, he ought fairly to be excused from liability, the court may relieve him, either wholly or partly, from his liability on such terms as the court thinks fit.
(4) Where any such subscriber or director has reason to apprehend that a claim will or might be made for the recovery of any such amount from him, he may apply to the court for relief and on the application the court shall have the same power to relieve him as it would have had in proceedings for the recovery of that amount.
(5) Subsection (1) shall not apply to shares acquired otherwise than by subscription by a nominee of a public limited company in a case falling within section 43 (1) (d).
(6) Subsections (1) and (2) shall not apply—
(a) to shares acquired by a nominee of a company where the company has no beneficial interest in those shares (disregarding any right which the company itself may have as trustee, whether as personal representative or otherwise, to recover its expenses or be remunerated out of the trust property); or
(b) to shares issued in consequence of an application made before the appointed day or transferred in pursuance of an agreement to acquire them made before that day.
Treatment of shares held by or on behalf of a public limited company.
43.—(1) Subject to subsections (12) and (15), this section applies to a public limited company—
(a) where shares in the company are forfeited, or are surrendered to the company in lieu, in pursuance of the articles for failure to pay any sum payable in respect of those shares;
(b) where shares in the company are acquired by the company otherwise than by any of the methods mentioned in section 41 (4) and the company has a beneficial interest in those shares;
(c) where the nominee of the company acquires shares in the company from a third person without financial assistance being given directly or indirectly by the company and the company has a beneficial interest in those shares; or
(d) where any person acquires shares in the company with financial assistance given to him directly or indirectly by the company for the purpose of or in connection with the acquisition and the company has a beneficial interest in those shares.
(2) In determining for the purposes of subsection (1) (b) and (c) whether a company has a beneficial interest in any shares, there shall be disregarded, in any case where the company is a trustee (whether as personal representative or otherwise), any right of the company (as trustee) to recover its expenses or be remunerated out of the trust property.
(3) Unless the shares or any interest of the company in them are previously disposed of, the company must not later than the end of the relevant period from their forfeiture or surrender or, in a case to which subsection (1) (b), (c) or (d) applies, their acquisition—
(a) cancel them and reduce the amount of the share capital by the nominal value of the shares; and
(b) where the effect of cancelling the shares will be that the nominal value of the company's allotted share capital is brought below the authorised minimum, apply for re-registration as another form of company, stating the effect of the cancellation,
and the directors may take such steps as are requisite to enable the company to carry out its obligations under this subsection without complying with sections 72 and 73 of the Principal Act, including passing a resolution in accordance with subsection (5).
(4) The company and, in a case falling within subsection (1) (c) or (d), the company's nominee or, as the case may be, the other shareholder must not exercise any voting rights in respect of the shares and any purported exercise of those rights shall be void.
(5) The resolution authorised by subsection (3) may alter the company's memorandum so that it no longer states that the company is to be a public limited company and may make such other alterations in the memorandum and articles as are requisite in the circumstances.
(6) The application for re-registration required by subsection (3) (b) must be in the prescribed form and signed by a director or secretary of the company and must be delivered to the registrar together with a printed copy of the memorandum and articles of the company as altered by the resolution.
(7) If a public limited company required to apply to be re-registered as another form of company under this section fails to do so before the end of the relevant period, section 21 shall apply to it as if it were a private company such as is mentioned in that section, but, except as aforesaid, the company shall continue to be treated for the purposes of the Companies Acts as a public limited company until it is re-registered as another form of company.
(8) If a company when required to do so by subsection (3) fails to cancel any shares in accordance with paragraph (a) of that subsection or to make an application for re-registration in accordance with paragraph (b) of that subsection, the company and every officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £250 together with, in the case of a continuing offence, a fine not exceeding £25 forevery day on which the offence continues, but not exceeding £500 in total.
(9) If the registrar is satisfied that a company may be re-registered in accordance with this section he shall—
(a) retain the application and other documents delivered to him under subsection (6); and
(b) issue the company with an appropriate certificate of incorporation.
(10) Upon the issue of a certificate of incorporation under subsection (9)—
(a) the company shall by virtue of the issue of that certificate become the form of company stated in the certificate; and
(b) the alterations in the memorandum and articles set out in the resolution shall take effect accordingly.
(11) A certificate of incorporation issued to a company under subsection (9) shall be conclusive evidence—
(a) that the requirements of this section in respect of re-registration and of matters precedent and incidental thereto have been complied with; and
(b) that the company is the form of company stated in the certificate.
(12) Where, after shares in a company—
(a) are forfeited in pursuance of the articles of the company or are surrendered to the company in lieu of forfeiture or are otherwise acquired by the company;
(b) are acquired by a nominee of the company in the circumstances mentioned in subsection (1)(c); or
(c) are acquired by any person in the circumstances mentioned in subsection (1) (d),
the company is re-registered as a public limited company, the foregoing provisions of this section shall apply to the company as if it had been a public limited company at the time of the forfeiture, surrender or acquisition and as if for any reference to the relevant period from the forfeiture, surrender or acquisition there were substituted a reference to the relevant period from the re-registration of the company as a public limited company.
(13) Where a public limited company or a nominee of a public limited company acquires shares in the company or an interest in such shares and those shares are or that interest is shown in a balance sheet of the company as an asset, an amount equal to the value of the shares or, as the case may be, the value to the company of its interest in the shares shall be transferred out of profits available for dividend to a reserve fund and shall not be available for distribution.
(14) In this section “relevant period”, in relation to any shares, means—
(a) in the case of shares forfeited or surrendered to the company in lieu of forfeiture or acquired as mentioned in subsection (1) (b) or (c), three years;
(b) in the case of shares acquired as mentioned in subsection (1)(d), one year.
(15) Notwithstanding anything in section 12 (2), a reference in this section to a public limited company does not include a reference to an old public limited company.
Charges taken by public limited companies on own shares.
44.—(1) A lien or other charge of a public limited company on its own shares (whether taken expressly or otherwise), except a charge permitted by subsection (2), is void.
(2) The following are permitted charges, that is to say—
(a) in the case of every description of company, a charge on its own shares (not being fully paid) for any amount payable in respect of the shares;
(b) in the case of a public limited company whose ordinary business includes the lending of money or consists of the provision of credit or the bailment or hiring of goods under a hire-purchase agreement, or both, a charge of the company on its own shares (whether fully paid or not) which arises in connection with a transaction entered into by the company in the ordinary course of its business;
(c) in the case of a company (other than a company in relation to which paragraph (d) applies) which is re-registered or is registered under section 18 as a public limited company, a charge on its own shares which was in existence immediately before its application for re-registration or, as the case may be, registration;
(d) in the case of any company which after the end of the re-registration period remains or remained an old public limited company and did not before the end of that period apply to be re-registered under section 12 as a public limited company, any charge on its own shares which was in existence immediately before the end of that period.
PART IV
Restrictions on distribution of profits and assets.
Profits available for distribution.
45.—(1) A company shall not make a distribution (as defined by section 51) except out of profits available for the purpose.
(2) For the purposes of this Part, but subject to section 47(1), a company's profits available for distribution are its accumulated, realised profits, so far as not previously utilised by distribution or capitalisation, less its accumulated, realised losses, so far as not previously written off in a reduction or reorganisation of capital duly made.
(3) A company shall not apply an unrealised profit in paying up debentures or any amounts unpaid on any of its issued shares.
(4) For the purposes of subsections (2) and (3) any provision (within the meaning of the Sixth Schedule to the Principal Act) other than one in respect of any diminution in value of a fixed asset appearing ona revaluation of all the fixed assets or of all the fixed assets other than goodwill of the company, shall be treated as a realised loss.
(5) Subject to section 49(8), any consideration by the directors of a company of the value at any particular time of any fixed asset of the company shall be treated as a revaluation of that asset for the purposes of determining whether any such revaluation of the company's fixed assets as is required for the purposes of the exception from subsection (4) has taken place at that time; but where any such assets which have not actually been revalued are treated as revalued for those purposes by virtue of this subsection that exception shall only apply if the directors are satisfied that their aggregate value at the time in question is not less than the aggregate amount at which they are for the time being stated in the company's accounts.
(6) If, on the revaluation of a fixed asset, an unrealised profit is shown to have been made and, on or after the revaluation, a sum is written off or retained for depreciation of that asset over a period, then, an amount equal to the amount by which that sum exceeds the sum which would have been so written off or retained for depreciation of that asset over that period, if that profit had not been made, shall be treated for the purposes of subsections (2) and (3) as a realised profit made over that period.
(7) Where there is no record of the original cost of an asset of a company (whether acquired before, on or after the appointed day) or any such record cannot be obtained without unreasonable expense or delay, then, for the purposes of determining whether the company has made a profit or loss in respect of that asset, the cost of the asset shall be taken to be the value ascribed to it in the earliest available record of its value made on or after its acquisition by the company.
(8) Where the directors of a company are, after making all reasonable enquiries, unable to determine whether a particular profit made before the appointed day is realised or unrealised they may treat the profit as realised, and where after making such enquiries they are unable to determine whether a particular loss so made is realised or unrealised, they may treat the loss as unrealised.
(9) In this section “fixed asset” includes any other asset which is not a current asset.
Restriction on distribution of assets.
46.—(1) Subject to section 47, a public limited company may only make a distribution at any time—
(a) if at that time the amount of its net assets is not less than the aggregate of the company's called-up share capital and its undistributable reserves; and
(b) if, and to the extent that, the distribution does not reduce the amount of those assets to less than that aggregate.
(2) For the purposes of this section the undistributable reserves of a public limited company are—
(a) the share premium account;
(b) the capital redemption reserve fund;
(c) the amount by which the company's accumulated, unrealised profits, so far as not previously utilised by any capitalisation, exceed its accumulated, unrealised losses, so far asnot previously written off in a reduction or reorganisation of capital duly made; and
(d) any other reserve which the company is prohibited from distributing by any enactment, other than one contained in this Part, or by its memorandum or articles.
(3) Subsections (4) to (8) of section 45 shall apply for the purposes of this section as they apply for the purposes of that section.
(4) A public limited company shall not include any uncalled share capital as an asset in any account relevant for the purposes of this section.
Other distributions of investment companies.
47.—(1) Subject to the following provisions of this section, an investment company may also make a distribution at any time out of its accumulated, realised revenue profits, so far as not previously utilised by distribution or capitalisation, less its accumulated revenue losses (whether realised or unrealised), so far as not previously written off in a reduction or reorganisation of capital duly made—
(a) if at that time the amount of its assets is at least equal to one and a half times the aggregate of its liabilities; and
(b) if, and to the extent that, the distribution does not reduce that amount to less than one and a half times that aggregate.
(2) In subsection (1) “liabilities” includes any provision (within the meaning of the Sixth Schedule to the Principal Act) except to the extent that that provision is taken into account for the purposes of that subsection in calculating the value of any asset of the company in question, and subsection (4) of section 46 shall apply for those purposes as it applies for the purposes of that section.
(3) In this Part “investment company” means a public limited company which has given notice in writing (which has not been revoked) to the registrar of its intention to carry on business as an investment company (the “requisite notice”) and has since the date of that notice complied with the requirements set out in subsection (4).
(4) The requirements referred to in subsection (3) are—
(a) that the business of the company consists of investing its funds mainly in securities, with the aim of spreading investment risk and giving members of the company the benefit of the results of the management of its funds;
(b) that none of the company's holdings in companies other than companies which are for the time being investment companies represents more than 15 per cent. by value of the investing company's investment;
(c) that distribution of the company's capital profits is prohibited by its memorandum or articles of association;
(d) that the company has not retained, otherwise than in compliance with this Part in respect of any financial year more than 15 per cent. of the income it derives from securities.
(5) An investment company may not make a distribution by virtue of subsection (1) unless its shares are listed on a recognised stockexchange and, during the period beginning with the first day of the financial year immediately preceding the financial year in which the proposed distribution is to be made or, where the distribution is proposed to be made during the company's first financial year, the first day of that financial year and ending with the date of the distribution (whether or not any part of those financial years falls before the appointed day), it has not—
(a) distributed any of its capital profits; or
(b) applied any unrealised profits or any capital profits (realised or unrealised) in paying up debentures or any amounts unpaid on any of its issued shares.
(6) An investment company may not make a distribution by virtue of subsection (1) unless the company gave the requisite notice—
(a) before the beginning of the appropriate period referred to in subsection (5); or
(b) where that period began before the appointed day, as soon as may be reasonably practicable after the appointed day; or
(c) where the company was incorporated on or after the appointed day, as soon as may be reasonably practicable after the date of its incorporation.
(7) A notice by a company to the registrar under subsection (3) may be revoked at any time by the company on giving notice to the registrar that it no longer wishes to be an investment company within the meaning of this section and, on giving such notice, the company shall cease to be such an investment company.
(8) In determining capital and revenue profits and losses for the purposes of this section an asset which is not a fixed asset or a current asset shall be treated as a fixed asset.
(9) An investment company shall include the expression “investment company” on its letters and order forms.
(10) Where a company fails to comply with subsection (9), the company and every officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £250.
(11) Proceedings in relation to an offence under this section may be brought and prosecuted by the registrar of companies.
(12) For the purposes of paragraph (b) of subsection (4)—
(a) “holding” means the shares or securities (whether of one class or more than one class) held in any one company;
(b) holdings in companies which are members of a group (whether or not including the investing company) and are not excluded from the said paragraph (b) shall be treated as holdings in a single company;
(c) where the investing company is a member of a group, money owed to it by another member of the group shall be treated as a security of the latter held by the investing company and accordingly as, or as part of, the holding of the investing company in the company owing the money,and for the purposes of this subsection “group” means a company and all companies which are its subsidiaries within the meaning of section 155 of the Principal Act.
Realised profits of assurance companies.
48.—(1) In the case of an assurance company carrying on life assurance business, or industrial assurance business or both, any amount properly transferred to the profit and loss account of the company from a surplus in the fund or funds maintained by it in respect of that business and any deficit in that fund or those funds shall be respectively treated for the purposes of this Part as a realised profit and a realised loss, and, subject to the foregoing, any profit or loss arising on the fund or funds maintained by it in respect of that business shall be left out of account for those purposes.
(2) In subsection (1)—
(a) the reference to a surplus in any fund or funds of an assurance company is a reference to an excess of the assets representing that fund or those funds over the liabilities of the company attributable to its life assurance or industrial assurance business, as shown by an actuarial investigation; and
(b) the reference to a deficit in any such fund or funds is a reference to the excess of those liabilities over those assets, as so shown.
(3) In this section—
“actuarial investigation” means an investigation to which section 5 of the Assurance Companies Act, 1909 applies;
“life assurance business” and “industrial assurance business” have the same meanings as in section 3 of the Insurance Act, 1936.
The relevant accounts.
49.—(1) Subject to the following provisions of this section, the question whether a distribution may be made by a company without contravening section 45, 46 or 47 (the relevant section) and the amount of any distribution which may be so made shall be determined by reference to the relevant items as stated in the relevant accounts, and the relevant section shall be treated as contravened in the case of a distribution unless the requirements of this section about those accounts are complied with in the case of that distribution.
(2) The relevant accounts for any company in the case of any particular distribution are—
(a) except in a case falling within paragraph (b) or (c), the last annual accounts that is to say, the accounts prepared in accordance with the requirements of the Principal Act which were laid in respect of the last preceding financial year in respect of which accounts so prepared were laid;
(b) if that distribution would be found to contravene the relevant section if reference were made only to the last annual accounts, such accounts (interim accounts) as are necessary to enable a reasonable judgment to be made as to the amounts of any of the relevant items;
(c) if that distribution is proposed to be declared during the company's first financial year or before any accounts are laid in respect of that financial year, such accounts (initial accounts) as are necessary as aforesaid.
(3) The following requirements apply where the last annual accounts of a company constitute the only relevant accounts in the case of any distribution, that is to say—
(a) those accounts must have been properly prepared or have been so prepared subject only to matters which are not material for the purpose of determining, by reference to the relevant items as stated in those accounts, whether that distribution would be in contravention of the relevant section;
(b) the auditors of the company must have made a report under section 163 of the Principal Act in respect of those accounts;
(c) if, by virtue of anything referred to in that report, the report is not an unqualified report, the auditors must also have stated in writing (either at the time the report was made or subsequently) whether, in their opinion, that thing is material for the purpose of determining, by reference to the relevant items as stated in those accounts, whether that distribution would be in contravention of the relevant section; and
(d) a copy of any such statement must have been laid before the company in general meeting.
(4) A statement under subsection (3) (c) suffices for the purposes of a particular distribution not only if it relates to a distribution which has been proposed but also if it relates to distributions of any description which include that particular distribution, notwithstanding that at the time of the statement it has not been proposed.
(5) The following requirements apply to interim accounts prepared for a proposed distribution by a public limited company, that is to say—
(a) the accounts must have been properly prepared or have been so prepared subject only to matters which are not material for the purpose of determining, by reference to the relevant items as stated in those accounts, whether that distribution would be in contravention of the relevant section;
(b) a copy of those accounts must have been delivered to the registrar of companies;
(c) if the accounts are in a language other than the English or Irish language, a translation into English or Irish of the accounts which has been certified in the prescribed manner to be a correct translation must also have been delivered to the registrar.
(6) The following requirements apply to initial accounts prepared for a proposed distribution by a public limited company, that is to say—
(a) those accounts must have been properly prepared or have been so prepared subject only to matters which are not material for the purpose of determining, by reference tothe relevant items as stated in those accounts, whether that distribution would be in contravention of the relevant section;
(b) the auditors of the company must have made a report stating whether in their opinion the accounts have been properly prepared;
(c) if, by virtue of anything referred to in that report, the report is not an unqualified report, the auditors must also have stated in writing whether, in their opinion, that thing is material for the purpose of determining, by reference to the relevant items as stated in those accounts, whether that distribution would be in contravention of the relevant section;
(d) a copy of those accounts, of the report made under paragraph (b) and of any such statement must have been delivered to the registrar of companies; and
(e) if the accounts are, or that report or statement is, in a language other than the English or Irish language, a translation into English or Irish of the accounts, the report or statement, as the case may be, which has been certified in the prescribed manner to be a correct translation, must also have been delivered to the registrar.
(7) For the purpose of determining by reference to particular accounts whether a proposed distribution may be made by a company, this section shall have effect, in any case where one or more distributions have already been made in pursuance of determinations made by reference to those same accounts, as if the amount of the proposed distribution was increased by the amount of the distributions so made.
(8) Where subsection (3) (a), (5) (a) or (6) (a) applies to the relevant accounts, section 45 (5) shall not apply for the purposes of determining whether any revaluation of the company's fixed assets affecting the amount of the relevant items as stated in those accounts has taken place, unless it is stated in a note to those accounts—
(a) that the directors have considered the value at any time of any fixed assets of the company without actually revaluing those assets;
(b) that they are satisfied that the aggregate value of those assets at the time in question is or was not less than the aggregate amount at which they are or were for the time being stated in the company's accounts; and
(c) that the relevant items affected are accordingly stated in the relevant accounts on the basis that a revaluation of the company's fixed assets which by virtue of section 45 (5) included the assets in question took place at that time.
(9) In this section—
“properly prepared” means, in relation to any accounts of a company, that the following conditions are satisfied in relation to those accounts, that is to say—
(a) in the case of annual accounts, that they have been properly prepared in accordance with the provisions of the Principal Act;
(b) in the case of interim or initial accounts, that theycomply with the requirements of section 149 of the Principal Act and any balance sheet comprised in those accounts has been signed in accordance with section 156 of the Principal Act; and
(c) in either case, without prejudice to the foregoing, that, except where the company is entitled to avail itself, and has availed itself, of any of the provisions of Part III of the Sixth Schedule to the Principal Act—
(i) so much of the accounts as consists of a balance sheet gives a true and fair view of the state of the company's affairs as at the balance sheet date; and
(ii) so much of those accounts as consists of a profit and loss account gives a true and fair view of the company's profit or loss for the period in respect of which the accounts were prepared;
“relevant item” means any of the following, that is to say profits, losses, assets, liabilities, provisions (within the meaning of the Sixth Schedule to the Principal Act), share capital and reserves;
“reserves” includes undistributable reserves within the meaning of section 46(2);
“unqualified report” in relation to any accounts of a company, means a report, without qualification, to the effect that in the opinion of the person making the report the accounts have been properly prepared;
and for the purposes of this section, accounts are laid if section 148 of the Principal Act has been complied with in relation to those accounts.
(10) For the purpose of paragraph (b) of the definition of “properly prepared” in subsection (9), section 149 of, and the Sixth Schedule to, the Principal Act shall be deemed to have effect in relation to interim and initial accounts with such modifications as are necessary by reason of the fact that the accounts are prepared otherwise than in respect of a financial year.
Consequences of making unlawful distribution.
50.—(1) Where a distribution, or part of one, made by a company to one of its members is made in contravention of the provisions of this Part and, at the time of the distribution, he knows or has reasonable grounds for believing that it is so made, he shall be liable to repay it or that part, as the case may be, to the company or (in the case of a distribution made otherwise than in cash) to pay the company a sum equal to the value of the distribution or part at that time.
(2) The provisions of this section are without prejudice to any obligation imposed apart from this section on a member of a company to repay a distribution unlawfully made to him.
Ancillary provisions.
51.—(1) Where immediately before the appointed day a company is authorised by any provision of its articles to apply its unrealised profits in paying up in full or in part unissued shares to be allotted to members of the company as fully or partly paid bonus shares, that provision shall, subject to any subsequent alteration of the articles, continue to be construed as authorising those profits to be so applied after the appointed day.
(2) In this Part “distribution” means every description of distribution of a company's assets to members of the company, whether in cash or otherwise, except distributions made by way of—
(a) an issue of shares as fully or partly paid bonus shares;
(b) the redemption of preference shares out of the proceeds of a fresh issue of shares made for the purposes of the redemption and the payment of any premium on their redemption out of the company's share premium account;
(c) the reduction of share capital by extinguishing or reducing the liability of any of the members on any of its shares in respect of share capital not paid up or by paying off paid up share capital; and
(d) a distribution of assets to members of the company on its winding up.
(3) In this Part “capitalisation”, in relation to any profits of a company, means any of the following operations, whether carried out before, on or after the appointed day, that is to say, applying the profits in wholly or partly paying up unissued shares in the company to be allotted to members of the company as fully or partly paid bonus shares or transferring the profits to the capital redemption reserve fund.
(4) In this Part reference to profits and losses of any description are references respectively to profits and losses of that description made at any time, whether before, on, or after the appointed day and, except where the context otherwise requires, are references respectively to revenue and capital profits and revenue and capital losses.
(5) The provisions of this Part are without prejudice to any enactment or rule of law or any provision of a company's memorandum or articles restricting the sums out of which, or the cases in which, a distribution may be made.
(6) The provisions of this Part shall not apply to any distribution made by a company, other than a public limited company registered as such on its original incorporation, before the date on which the earlier of the following events occurs, that is to say, the re-registration or registration of the company as a public limited company and the end of the general transitional period.
PART V
Change of status of certain companies
Re-registration of limited company as unlimited.
52.—(1) A company which, on the appointed day, is registered as limited or thereafter is so registered (otherwise than in pursuance of section 53) may be re-registered under the Principal Act as unlimited in pursuance of an application in that behalf complying with the requirements of subsection (2), made in the prescribed form and signed by a director or by the secretary of the company and delivered to the registrar together with the documents mentioned in subsection (3).
(2) The requirements referred to in subsection (1) are that the application must—
(a) set out such alterations in the company's memorandum as—
(i) if it is to have a share capital, are requisite to bring it, both in substance and in form into conformity with the requirements imposed by the Principal Act with respect to the memorandum of a company to be formed under that Act as an unlimited company having a share capital; or
(ii) if it is not to have a share capital, are requisite in the circumstances; and
(b) if articles have been registered, set out such alterations therein and additions thereto as—
(i) if it is to have a share capital, are requisite to bring them, both in substance and in form, into conformity with the requirements imposed by the Principal Act with respect to the articles of a company to be formed under that Act as an unlimited company having a share capital; or
(ii) if it is not to have a share capital, are requisite in the circumstances; and
(c) if articles have not been registered—
(i) have annexed thereto, and request the registration of, printed articles, bearing the same stamp as if they were contained in a deed, being, if the company is to have a share capital, articles complying with the said requirements; or
(ii) if it is not to have a share capital, articles appropriate to the circumstances.
(3) The documents referred to in subsection (1) are—
(a) the prescribed form of assent to the company's being registered as unlimited subscribed by or on behalf of all members of the company;
(b) a statutory declaration made by the directors of the company that the persons by whom or on whose behalf the form of assent is subscribed constitute the whole membership of the company, and, if any of the members have not subscribed that form themselves, that the directors have taken all reasonable steps to satisfy themselves that each person who subscribed it on behalf of a member was lawfully empowered so to do;
(c) a printed copy of the memorandum incorporating the alterations therein set out in the application; and
(d) if articles have been registered, a printed copy thereof incorporating the alterations therein and additions thereto set out in the application.
(4) The registrar shall retain the application and other documents delivered to him under subsection (1), shall, if articles are annexed to the application, register them and shall issue to the company a certificate of incorporation appropriate to the status to be assumed by the company by virtue of this section, and upon the issue of the certificate—
(a) the status of the company shall, by virtue of the issue, be changed from limited to unlimited; and
(b) the alterations in the memorandum set out in the application and (if articles have been previously registered) any alterations and additions to the articles so set out shall, notwithstanding anything in the Principal Act, take effect as if duly made by resolution of the company and the provisions of the Principal Act shall apply to the memorandum and articles as altered or added to by virtue of this section accordingly.
(5) A certificate of incorporation issued by virtue of this section shall be conclusive evidence that the requirements of this section with respect to re-registration and of matters precedent and incidental thereto have been complied with, and that the company was authorised to be re-registered under the Principal Act in pursuance of this section and was duly so re-registered.
(6) Where a company is re-registered in pursuance of this section a person who, at the time when the application for it to be re-registered was delivered to the registrar, was a past member of the company and did not thereafter again become a member thereof shall not, in the event of the company's being wound up, be liable to contribute to the assets of the company more than he would have been liable to contribute thereto had it not been so re-registered.
(7) The re-registration of a limited company as an unlimited company pursuant to this Act shall not affect any rights or obligations of the company, or render defective any legal proceedings by or against the company, and any legal proceedings which might have been continued or commenced against it in its former status may be continued or commenced against it in its new status.
(8) For the purposes of this section—
(a) subscription to a form of assent by the legal personal representative of a deceased member of a company shall be deemed to be subscription by him;
(b) a trustee in bankruptcy of a person who is a member of a company shall, to the exclusion of that person, be deemed to be a member of the company.
Re-registration of unlimited company as limited.
53.—(1) A company which, on the appointed day, is registered as unlimited or thereafter is so registered (otherwise than by virtue of section 52) may be re-registered under the Principal Act as limited if a special resolution that it should be so re-registered (complying with the requirements of subsection (2)) is passed and an application in that behalf, made in the prescribed form and signed by a director or by the secretary of the company, is delivered to the registrar, together with the documents mentioned in subsection (3) not earlier than the day on which the copy of the resolution forwarded to him in pursuance of section 143 of the Principal Act is received by him.
(2) The said requirements are that the resolution must state whether the company is to be limited by shares or by guarantee and—
(a) if it is to be limited by shares, must state what the share capital is to be and provide for the making of such alterations in the memorandum as are necessary to bring it,both in substance and in form, into conformity with the requirements of the Companies Acts with respect to the memorandum of a company so limited, and such alterations in the articles as are requisite in the circumstances;
(b) if it is to be limited by guarantee, must provide for the making of such alterations in its memorandum and articles as are necessary to bring them, both in substance and in form, into conformity with the requirements of the Principal Act with respect to the memorandum and articles of a company so limited.
(3) The documents referred to in subsection (1) are a printed copy of the memorandum as altered in pursuance of the resolution and a printed copy of the articles as so altered.
(4) The registrar shall retain the application and other documents delivered to him under subsection (1) and shall issue to the company a certificate of incorporation appropriate to the status to be assumed by the company by virtue of this section; and upon the issue of the certificate—
(a) the status of the company shall, by virtue of the issue, be changed from unlimited to limited; and
(b) the alterations in the memorandum specified in the resolution and the alterations in, and additions to, the articles so specified shall, notwithstanding anything in the Principal Act, take effect.
(5) A certificate of incorporation issued by virtue of this section shall be conclusive evidence that the requirements of this section with respect to re-registration and of matters precedent and incidental thereto have been complied with, and that the company was authorised to be re-registered under the Principal Act in pursuance of this section and was duly so re-registered.
(6) Section 71 of the Principal Act shall have effect as if, for the reference to its resolution for registration as a limited company in pursuance of that Act, there were substituted a reference to its resolution for registration as a limited company in pursuance of that Act or re-registration as a limited company in pursuance of this section.
(7) In the event of the winding-up of a company re-registered in pursuance of this section, the following provisions shall have effect—
(a) notwithstanding paragraph (a) of subsection (1) of section 207 of the Principal Act, a past member of the company who was a member thereof at the time of re-registration shall, if the winding-up commences within the period of three years beginning with the day on which the company is re-registered, be liable to contribute to the assets of the company in respect of its debts and liabilities contracted before that time;
(b) where no persons who were members of the company at that time are existing members of the company, a person who, at that time, was a present or past member thereof shall, subject to paragraph (a) of the said subsection (1) and to paragraph (a) of this subsection, but notwithstanding paragraph (c) of the said subsection (1), be liable to contributeas aforesaid notwithstanding that the existing members have satisfied the contributions required to be made by them in pursuance of the Principal Act;
(c) notwithstanding paragraphs (d) and (e) of the said subsection (1), there shall be no limit on the amount which a person who, at that time, was a past or present member of the company is liable to contribute as aforesaid.
(8) The re-registration of an unlimited company as a limited company pursuant to this Act shall not affect any rights or obligations of the company, or render defective any legal proceedings by or against the company, and any legal proceedings which might have been continued or commenced against it in its former status may be continued or commenced against it in its new status.
Cesser of section 20 of Principal Act.
54.—No company shall register or re-register in pursuance of section 20 (1) of the Principal Act after the appointed day except upon an application in that behalf made before that day.
PART VI
Miscellaneous
Public limited company to publish certain matters in Iris Oifigiúil.
55.—(1) A public limited company shall publish in Iris Oifigiúil notice of the delivery to the registrar of companies of the following documents—
(a) a statutory declaration under section 6 (2);
(b) a copy of a resolution which gives, varies, revokes or renews an authority for the purposes of section 20;
(c) a copy of a special resolution under section 24 (1), (2) or (3);
(d) any expert's valuation report on a non-cash consideration under section 31 (2);
(e) any expert's valuation report on a non-cash asset acquired from a subscriber under section 33 (2);
(f) any statement or notice under section 39 (1), (3) or (4);
(g) any return of allotments under section 58 (1) of the Principal Act;
(h) any notification of the redemption of preference shares under section 69 (1) of the Principal Act;
(i) a copy of a special resolution to reduce its share capital under section 72 (2) of the Principal Act;
(j) a copy of any resolution or agreement to which section 143 of the Principal Act applies and which—
(i) states the rights attached to any shares in the company, other than shares which are, in all respects, uniform (for the purposes of section 39 (1)) with shares previously allotted;
(ii) varies rights attached to any shares in the company; or
(iii) assigns a name or other designation, or a new name or other designation, to any class of shares in the company.
(2) The notice mentioned in subsection (1) shall be published within six weeks of the relevant delivery.
(3) Where a company fails to comply with this section, the company and every officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £250.
(4) Proceedings in relation to an offence under this section may be brought and prosecuted by the registrar of companies.
Trading under misleading name.
56.—(1) A person who is not a public limited company or (after the end of the general transitional period) is an old public limited company shall be guilty of an offence if he carries on any trade, profession or business under a name which includes, as its last part, the words “public limited company”, or “cuideachta phoiblí theoranta” or abbreviations of those words.
(2) A public limited company other than an old public limited company shall be guilty of an offence if, in circumstances in which the fact that it is a public limited company is likely to be material to any person, it uses a name which may reasonably be expected to give the impression that it is a company other than a public limited company.
(3) Where, within the re-registration period, an old public limited company applies to be re-registered under section 12 as a public limited company, then—
(a) during the twelve months following the re-registration, any provision of section 114 (1) (b) or (c) of the Principal Act; and
(b) during the three years following the re-registration, section 114(1) (a) of the Principal Act or any provision of any other Act or statutory instrument requiring or authorising the name of the company to be shown on any document or other object,
shall apply as if any reference in that provision to the name of the company were a reference to a name which either is its name or was its name before re-registration.
(4) Subsection (1) shall not apply to any company—
(a) to which Part XI of the Principal Act applies; and
(b) which has provisions in its constitution that would entitle it to rank as a public limited company if it had been registered in the State.
(5) A person guilty of an offence under subsection (1) or (2) and, if that person is a company, any officer of the company who is in default shall be liable on summary conviction to a fine not exceeding £500 together with, in the case of a continuing offence, a fine not exceeding £50 for every day on which the offence continues, but not exceeding £1,000 in total.
Penalties.
57.—(1) A company or other person guilty of an offence under section 20 or 36 shall be liable, on conviction on indictment, to a fine not exceeding £2,500.
(2) A company or other person guilty of an offence under section 24, 40 or 41 shall be liable, on conviction on indictment—
(a) in the case of a company, to a fine not exceeding £2,500;
(b) in the case of a person other than a company, to a fine not exceeding £2,500 or, at the discretion of the court, to imprisonment for a term not exceeding 2 years or to both the fine and the imprisonment.
(3) Any person guilty of an offence under section 31 shall be liable on conviction on indictment to a fine not exceeding £5,000 or, at the discretion of the court, to imprisonment for a term not exceeding 3 years or to both the fine and the imprisonment.
(4) A Justice of the District Court shall have jurisdiction to try summarily an offence under section 20, 24, 31, 36, 40 or 41 if—
(a) the Justice is of the opinion that the facts proved or alleged against the defendant charged with any such offence constitute a minor offence fit to be tried summarily;
(b) the Director of Public Prosecutions consents; and
(c) the defendant (on being informed by the Justice of his right to be tried by a jury) does not object to being tried summarily,
and, upon conviction under this subsection the said defendant shall be liable—
(i) in the case where the defendant is guilty of an offence under section 20 or 36, to a fine not exceeding £500;
(ii) in the case where the defendant is guilty of an offence under section 24, 31, 40 or 41—
(I) in the case of a company, to a fine not exceeding £500;
(II) in the case of a person other than a company, to a fine not exceeding £500 or, at the discretion of the Court, to imprisonment for a term not exceeding 6 months or to both the fine and the imprisonment.
(5) Section 13 of the Criminal Procedure Act, 1967, shall apply in relation to an offence under the said section 20, 24, 31, 36, 40 and 41 as if, in lieu of the penalties specified in subsection (3) of the said section 13, there were specified therein the penalty provided for by subsection (4) of this section, and the reference in subsection 2 (a) of the said section 13 to the penalties provided for in subsection (3) of the said section 13 shall be construed and have effect accordingly.
Revocation of power under section 24 of Principal Act to dispense with “limited” in name of public limited companies.
58.—(1) No licence under section 24 of the Principal Act shall be granted in respect of a public limited company or an association about to be formed into a public limited company or have effect in respect of such a company.
(2) Any such licence already granted to a company shall cease to have effect if, after the appointed day, the company is registered or re-registered as a public limited company.
Power by order to prescribe forms and to revoke and amend orders.
59.—(1) The Minister may by order prescribe forms to be used in connection with any of the provisions of this Act.
(2) The Minister may by order revoke or amend an order (other than an order made under section 1 (3) made under this Act.
Laying of orders before Houses of Oireachtas.
60.—Every order made under this Act shall be laid before each House of the Oireachtas as soon as may be after it is made and if a resolution annulling the order is passed by either House within the next 21 days on which that House has sat after the order is laid before it, the order shall be annulled accordingly but without prejudice to the validity of anything previously done thereunder.
Expenses.
61.—The expenses incurred in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas.
FIRST SCHEDULE
Minor and Consequential Amendments to the Companies Act, 1963.
1. Section 2 of the Principal Act is hereby amended in subsection (1), in the definition of “articles”, by substituting “a resolution of the company” for “special resolution”.
2. Section 6 of the Principal Act is hereby amended by substituting the following subsection for subsection (1)—
“(1) The memorandum of every company must state—
(a) in the case of a public limited company, the name of the company, with ‘public limited company’ or ‘cuideachta phoiblí theoranta’ as the last words of the name;
(b) in the case of a company (other than a public limited company) which is limited by shares or by guarantee, the name of the company, with ‘limited’ or ‘teoranta’ as the last word of the name;
(c) the objects of the company.”.
3. Section 10 of the Principal Act is hereby amended—
(a) in subsection (6) by deleting “so, however, that no part of the capital of the company shall be expended in any such purchase.”; and
(b) by inserting after subsection (6) the following new subsections—
“(6A) An order under this section may, if the court thinks fit, provide for the purchase by the company of the shares of any members of the company and for the reduction accordingly of the company's capital and may make such alterations in the memorandum and articles of the company as may be required in consequence of that provision.
(6B) Where an order under this section requires the company not to make any, or any specified, alteration in its memorandum or articles, then, notwithstanding anything in the Companies Acts, 1963 to 1983, thecompany shall not have power without the leave of the court to make any such alteration in breach of that requirement.
(6C) Any alteration in the memorandum or articles of a company made by virtue of an order under this section, other than one made by resolution of the company, shall be of the same effect as if duly made by resolution of the company, and the provisions of the Companies Acts, 1963 to 1983 shall apply to the memorandum or articles as so altered accordingly.”.
4. Section 22 of the Principal Act is hereby amended by substituting the following subsection for subsection (2)—
“(2) The use of the abbreviation ‘Ltd.’ for ‘Limited’ or ‘Teo.’ for ‘Teoranta’ or ‘p.l.c.’ for ‘public limited company’ or ‘c.p.t.’ for ‘cuideachta phoiblí theoranta’ shall not of itself render such registration necessary.”.
5. Section 28 of the Principal Act is hereby amended in subsection (4) by inserting after “(6),”, the following — “(6A), (6B), (6C),”.
6. The Principal Act is hereby amended by substituting the following section for section 35—
“35.—(1) Subject to subsection (2), if a company, being a private company, alters its articles in such a manner that they no longer include the provisions which, under section 33, are required to be included in the articles of a company in order to constitute it a private company, the company shall cease to be a private company.
(2) The alteration referred to in subsection (1) shall not take effect unless the company has been re-registered as a public limited company in accordance with section 9 of the Companies (Amendment) Act, 1983 or as an unlimited public company in accordance with section 52 of that Act.
(3) Where an application is made to re-register a private company as an unlimited public company, there shall be delivered with the application for re-registration a statement in lieu of prospectus in the form and containing the particulars set out in Part I of the Second Schedule, and, in the cases mentioned in Part II of that Schedule, setting out the reports specified therein, and the said Parts I and II shall have effect subject to the provisions contained in Part III of that Schedule.
(4) A statement in lieu of prospectus need not be delivered under subsection (3) if a prospectus relating to the company which complies, or is deemed by virtue of a certificate of exemption under section 45 to comply, with the Third Schedule, is issued and is delivered to the registrar of companies as required by section 47.
(5) Every statement in lieu of prospectus delivered under subsection (3) shall, where the persons making any such report as referred to in that subsection have made therein or have, without giving the reasons, indicated therein any such adjustments as are mentioned in paragraph 5 of Part III of the Second Schedule, have endorsed thereon or attached thereto a written statement signed by those persons, setting out the adjustments and giving the reasons therefor.
(6) If default is made in complying with subsection (2), (3) or (5), the company and every officer of the company who is in default shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £500.
(7) Where a statement in lieu of prospectus, delivered to the registrar under subsection (3) includes any untrue statement, any person who authorised the delivery of the statement in lieu of prospectus for registration shall be guilty of an offence and shall be liable—
(a) on conviction on indictment, to imprisonment for a term not exceeding 2 years or a fine not exceeding £2,500, or both, or
(b) on summary conviction, to imprisonment for a term not exceeding 6 months or a fine not exceeding £500 or both;
unless he proves either that the untrue statement was immaterial or that he had reasonable ground to believe and did, up to the time of the delivery for registration of the statement in lieu of prospectus, believe that the untrue statement was true.
(8) For the purposes of this section—
(a) a statement included in a statement in lieu of prospectus shall be deemed to be untrue if it is misleading in the form and context in which it is included, and
(b) a statement shall be deemed to be included in a statement in lieu of prospectus if it is contained therein or in any report or memorandum appearing on the face thereof, or by reference incorporated therein.”.
7. Section 53 of the Principal Act is hereby amended in subsection (3) by substituting “Except in the case of a public limited company the amount payable” for “The amount payable”.
8. Section 54 of the Principal Act is hereby amended by substituting the following subsection for subsection (3)—
“(3) This section shall not apply to—
(a) a private company; or
(b) a public limited company within the meaning of the Companies (Amendment) Act, 1983.”.
9. Section 55 of the Principal Act is hereby amended by substituting the following subsection for subsection (1)—
“(1) An allotment made by a company to an applicant in contravention of section 53 or 54 shall be voidable at the instance of the applicant within one month after the date of the allotment, and not later, and shall be so voidable notwithstanding that the company is in the course of being wound up.”.
10. Section 60 of the Principal Act is hereby amended by inserting after subsection (15) the following new subsections—
“(15A) Subsections (2) to (11) shall not apply to a public limited company originally incorporated as such or to a company registered or re-registered as a public limited company under the Companies (Amendment) Act, 1983 unless a special resolution as provided under subsection (2) was passed before the company's application for registration or re-registration.
(15B) A public limited company may, in accordance with subsection (13), give financial assistance to any person only if the company's net assets are not thereby reduced or, to the extent that those assets are thereby reduced, if the financial assistance is provided out of profits which are available for dividend.
(15C) In this section “net assets” means the aggregate of the company's assets less the aggregate of its liabilities; and “liabilities” includes any provision (within the meaning of the Sixth Schedule) except to the extent that that provision is taken into account in calculating the value of any asset to the company.”.
11. Section 62(2) of the Principal Act is hereby amended by substituting “to be allotted” for “to be issued”.
12. Section 64 of the Principal Act is hereby amended—
(a) in subsection (1) by substituting the following paragraph for paragraph (c)—
“(c) the premium, if any, payable on redemption must have been provided for out of the profits of the company which would otherwise be available for dividend or out of the company's share premium account before the shares are redeemed;”;
and
(b) in subsection (6) by substituting “to be allotted” for “to be issued”.
13. Section 114 of the Principal Act is hereby amended by substituting the following subsection for subsection (5)—
“(5) The use of the abbreviation ‘Ltd.’ for ‘Limited’ or ‘Teo.’ for ‘Teoranta’ or ‘p.l.c.’ for ‘public limited company’ or ‘c.p.t.’ for ‘cuideachta phoiblí theoranta’ shall not be a breach of the provisions of this section.”.
14. Section 115 of the Principal Act is hereby amended in subsection (7) by inserting after paragraph (c) the following—
“, or
(d) a public limited company registered as such on its original incorporation under the Companies (Amendment) Act, 1983.”.
15. Section 143 of the Principal Act is hereby amended in subsection (4) (as amended by the Companies (Amendment) Act, 1982) by inserting after paragraph (i) the following new paragraph—
“(j) resolutions of the directors of a company passed by virtue of sections 12(3) (a) and 43(3) of the Companies (Amendment) Act, 1983.”.
16. Section 200 of the Principal Act is hereby amended in paragraph (b) by inserting after “section 391” the following—
“or section 42 of the Companies (Amendment) Act, 1983”.
17. Section 213 of the Principal Act is hereby amended by inserting after paragraph (g) the following paragraphs—
“(h) after the end of the general transitional period, within the meaning of the Companies (Amendment) Act, 1983, the company is an old public limited company within the meaning of that Act;
(i) after the end of the transitional period for share capital, within the meaning of the Companies (Amendment) Act, 1983, the company has not complied with the conditions specified in section 12 (9) of that Act.”.
18. Section 215 of the Principal Act is hereby amended by adding after paragraph (e) the following—
“and
(f) a petition for winding up on the grounds mentioned in section 213(h) or (i), may be presented by the registrar of companies.”.
19. Section 330(c) of the Principal Act is hereby amended by substituting the following subparagraph for subparagraph (iii)—
“(iii) the name of the company with the addition of the word ‘limited’ or ‘teoranta’ as the last word thereof or, in the case of a public limited company, with the addition of the words ‘public limited company’ or ‘cuideachta phoiblí theoranta’ as the last words thereof; and”
20. Section 335 of the Principal Act is hereby amended by substituting the following subsection for subsection (1)—
“(1) Subject to subsection (2), when a company registers in pursuance of this Part with limited liability, the word ‘limited’ or ‘teoranta’ or in the case of a public limited company the words ‘public limited company’ or ‘cuideachta phoiblí theoranta’ shall form and be part of its name.”.
21. Section 336 of the Principal Act is hereby amended—
(a) by being renumbered as subsection (1) thereof; and
(b) by inserting the following new subsection—
“(2) A certificate given under this section in respect of a company shall be conclusive evidence that the requirements of this Part in respect of registration and of matters precedent and incidental thereto have been complied with.”.
22. Section 340 of the Principal Act is hereby amended in subsection (2) by inserting after “the amount of the guarantee” the following—“and including any statement under section 330(c)”.
23. Section 395 of the Principal Act is hereby amended by substituting the following subsection for subsection (2)—
“(2) The Minister may by order—
(a) alter Table A, Tábla A and the Third, Seventh and Eighth Schedules;
(b) alter or add to Tables B, C, D and E in the First Schedule and the form in Part II of the Fifth Schedule; and
(c) alter the forms set out in the Second Schedule to the Companies (Amendment) Act, 1983;
but no alteration made by the Minister in Table A or in Tábla A shall affect any company registered before the alteration, or repeal in relation to that company any portion of Table A or Tábla A.”.
24. The First Schedule to the Principal Act is hereby amended in Part I of Table A—
(a) by substituting the following regulation for regulation 3—
“3. If at any time the share capital is divided into different classes of shares, the rights attached to any class may, whether or not the company is being wound up, be varied or abrogated with the consent in writing of the holders of three-fourths of the issued shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class.”;
(b) by substituting the following regulation for regulation 5—
“5. Subject to the provisions of these regulations relating to new shares, the shares shall be at the disposal of the directors, and they may (subject to the provisions of the Companies Acts, 1963 to 1983) allot, grant options over or otherwise dispose of them to such persons, on such terms and conditions and at such times as they may consider to be in the best interests of the company and its shareholders, but so that no share shall be issued at a discount and so that, in the case of shares offered to the public for subscription by a public limited company, the amount payable on application on each share shall not be less than one-quarter of the nominal amount of the share and the whole of any premium thereon.”;
(c) in regulation 79 by inserting after “or any part thereof, and” the following “, subject to section 20 of the Companies (Amendment) Act, 1983”;
(d) in regulation 80 by substituting “the Companies Acts, 1963 to 1983” for “the Act”;
(e) by substituting the following regulation for regulation 118—
“118. No dividend or interim dividend shall be paid otherwise than in accordance with the provisions of Part IV of the Companies (Amendment) Act, 1983 which apply to the company.”;
(f) by inserting after regulation 130 the following new regulation—
“130A. The company in general meeting may on the recommendation of the directors resolve that it is desirable to capitalise any part of the amount for the time being standing to the credit of any of the company's reserve accounts or to the credit of the profit and loss account which is not available for distribution by applying such sum in paying up in full unissued shares to be allotted as fully paid bonus shares to those members of the company who would have been entitled to that sum if it were distributed by way of dividend (and in the same proportions), and the directors shall give effect to such resolution.”;
(g) in regulation 131 by substituting “Whenever a resolution is passed in pursuance of regulation 130 or 130A” for “Whenever such a resolution as aforesaid shall have been passed”.
25. The First Schedule to the Principal Act is hereby amended in Part I of Tábla A—
(a) by substituting the following regulation for regulation 3—
“3. Más rud é tráth ar bith go roinnfear an scairchaipiteal ina scaireanna de chineálacha éagsúla, féadfar na cearta a ghabhfaidh le haon chineál, cibé acu a bheidh an chuideachta á foirceannadh nó nach mbeidh, a athrú nó a aisghairm le toiliú i scríbhinn ó shealbhóirí trí cheathrú de na scaireanna eisithe den chineál sin, nó le ceadú faoi rún speisialta a ritheadh ag cruinniú ginearálta ar leith de shealbhóirí na scaireanna den chineál sin.”;
(b) by substituting the following regulation for regulation 5—
“5. Faoi réir na bhforálacha de na rialacháin seo a bhaineann le scaireanna nua, beidh na scaireanna ar a n-urláimh ag na stiúrthóirí, agus féadfaidh siad (faoi réir fhorálacha Achtanna na gCuideachtaí, 1963 go 1983) iad a leithroinnt ar cibé daoine, nó roghanna orthu a dheonú dóibh, nó iad a dhiúscairt chucu i slí eile, ar cibé téarmaí agus coinníollacha, agus cibé tráthanna, is dóigh leo is fearr a bheadh le leas na cuideachta agus a scairshealbhóirí, ach sa dóigh nach n-eiseofar aon scair faoi lascaine agus sa dóigh, i gcás scaireanna a thairgfidh cuideachta phoiblí theoranta don phobal lena suibscríobh, nach mbeidh an tsuim is iníoctha tráth an iarratais ar gach scair faoi bhun an ceathrú cuid de mhéid ainmniúil na scaire agus iomlán aon phréimhe uirthi.”;
(c) in regulation 79 by inserting after “a mhorgáistiú nó a mhuirearú, agus,” the following: “faoi réir alt 19 d'Acht na gCuideachtaí (Leasú), 1983”;
(d) in regulation 80 by substituting “le hAchtanna na gCuideachtaí, 1963 go 1983” for “leis an Acht” and “faoi réir fhorálacha Achtanna na gCuideachtaí, 1963 go 1983” for “faoi réir forálacha an Achta”;
(e) by substituting the following regulation for regulation 118—
“118. Ní íocfar díbhinn ná díbhinn eatramhach ar bith seachas de réir na bhforálacha de Chuid IV d'Acht na gCuideachtaí (Leasú), 1983 a bhfuil feidhm acu maidir leis an gcuideachta.”;
(f) by inserting after regulation 130 the following new regulation—
“130A. Féadfaidh an chuideachta, i gcruinniú ginearálta, ar mholadh na stiúrthóirí, a bheartú gur inmhianaithe aon chuid den méid a bheidh de thuras na huaire i gcreidiúint d'aon cheann de chúlchuntais na cuideachta nó i gcreidiúint don chuntas sochair agus dochair nach mbeidh ar fáil chun a dháilte a chaipitliú tríd an tsuim sin a chur chun feidhme do láníoc scaireanna neamheisithe a bheidh le leithroinnt mar scaireanna bónais láníoctha ar na comhaltaí sin den chuideachta a bheadh i dteideal na suime sin dá ndéanfaí í a dháileadh i modh díbhinne (agus sna cionúireachtaí céanna) agus tabharfaidh na stiurthóirí éifeacht don rún sin.”;
(g) in regulation 131 by substituting “Aon uair a rithfear rún de bhun rialachán 130 nó 130A” for “Aon uair a rithfear rún mar a dúradh”.
26. The Second Schedule to the Principal Act is hereby amended in the heading thereof by substituting “AN UNLIMITED PUBLIC COMPANY” for “A PUBLIC COMPANY”.
27. The Sixth Schedule to the Principal Act is hereby amended in paragraph 11 by inserting after subparagraph (2) the following new subparagraphs—
“(2A) Where shares in a public limited company, other than an old public limited company within the meaning of the Companies (Amendment) Act, 1983 are acquired by the company by forfeiture or surrender in lieu of forfeiture, or in pursuance of section 41 of that Act, or are acquired by another person in circumstances where paragraph (c) or (d) of section 43(1) of that Act applies or are made subject to a lien or charge taken (whether expressly or otherwise) by the company and permitted by section 44(2) (a), (c) or (d) of that Act—
(a) the number and nominal value of the shares so acquired by the company, acquired by another person in such circumstances and so charged respectively during the financial year;
(b) the maximum number and nominal value of shares which, having been so acquired by the company, acquired by another person in such circumstances or so charged (whether or not during the financial year) are held at any time by the company or that other person during that year;
(c) the number and nominal value of the shares so acquired by the company, acquired by another person in such circumstances or so charged (whether or not during that year) which are disposed of by the company or that other person or cancelled by the company during that year;
(d) where the number and nominal value of the shares of any particular description are stated in pursuance of any of the preceding paragraphs, the percentage of the called-up share capital which shares of that description represent;
(e) where any of the shares have been so charged, the amount of the charge in each case; and
(f) where any of the shares have been disposed of by the company or the person who acquired them in such circumstances for money or money's worth, the amount or value of the consideration in each case.
(2B) Any distribution by an investment company within the meaning of Part IV of the Companies (Amendment) Act, 1983, which reduces the amount of its net assets to less than the aggregate of its called-up share capital and undistributable reserves. In this subparagraph ‘net assets’ and ‘called up share capital’ have the same meanings as in section 2 of the Companies (Amendment) Act, 1983 and ‘undistributable reserves’ has the same meaning as in section 46 (2) of that Act.”.
28. The Seventh Schedule to the Principal Act is hereby amended by inserting after paragraph 4 the following new paragraph—
“5. Whether, in their opinion, there exists at the balance sheet date within the meaning of the Companies (Amendment) Act, 1983 a financial situation which under section 40 (1) of that Act would require the convening of an extraordinary general meeting of the company.”.
29. The Ninth Schedule to the Principal Act is hereby amended by inserting—
(a) in the first column after “Register of directors and secretaries” the following: “Particulars relating to directors to be shown on all business letters of the company”; and
(b) in the second column after “Section 195” the following: “Section 196”.
30. The Tenth Schedule to the Principal Act is hereby amended by deleting from the first and second columns thereof the following—
“130 Statutory meeting and statutory report.”.
SECOND SCHEDULE
Forms of Memorandum of Association of a Public Limited Company
PART I
A Public Company Limited by Shares.
1. The name of the company is “The Northern Mining, public limited company”.
2. The company is to be a public limited company.
3. The objects for which the company is established are the mining of minerals of all kinds and the doing of all such other things as are incidental or conducive to the attainment of the above object.
4. The liability of the members is limited.
5. The share capital of the company is £30,000, divided into 30,000 shares of £1 each.
We, the several persons whose names and addresses are subscribed, wish to be formed into a company in pursuance of this memorandum of association, and we agree to take the number of shares in the capital of the company set opposite our respective names.
Names, Addresses and Descriptions of Subscribers | Number of Shares taken by each Subscriber |
1. James Maher of ____________________________________________________ | |
5 | |
in the County of _____________________________________________ Solicitor | |
2. John O'Brien of ____________________________________________________ | |
in the County of _____________________________________________ Engineer | 375 |
3. Michael Nolan of ____________________________________________________ | |
in the County of _____________________________________________ Engineer | 225 |
4. Patrick Hayes of ____________________________________________________ | |
in the County of _____________________________________________ Geologist | 55 |
5. Paul McCarthy of ___________________________________________________ | |
in the County of _____________________________________________ Geologist | 10 |
6. Thomas Kennedy of _________________________________________________ | |
in the County of _____________________________________________ Accountant | 30 |
7. Joseph O'Meara of ___________________________________________________ | |
in the County of _____________________________________________ Solicitor | 15 |
Total Shares taken | 715 |
Dated the ________ day of _______________, 19 _____
Witness to the above signatures:
Name:
Address:
PART II
A Public Company Limited by Guarantee and having a Share Capital.
1. The name of the company is “The Southern Counties Tourist Development, public limited company”.
2. The company is to be a public limited company.
3. The objects for which the company is established are the promotion of tourism in the southern counties of Ireland by providing facilities for tourists, and the doing of all such other things as are incidental or conducive to the attainment of the above object.
4. The liability of the members is limited.
5. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while he is a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding £25.
6. The share capital of the company shall consist of £30,000 divided into 30,000 shares of £1 each.
We, the several persons whose names and addresses are subscribed, wish to be formed into a company in pursuance of this memorandum of association, and we agree to take the number of shares in the capital of the company set opposite our respective names.
Names, Addresses and Descriptions of Subscribers | Number of Shares taken by each Subscriber |
1. John Boland of _________________________________________________ | |
in the County of _____________________________________________ Solicitor | 5 |
2. Martin Cullen of ________________________________________________ | |
in the County of _____________________________________________ Hotel Proprietor | 375 |
3. Sean Keogh of _________________________________________________ | |
in the County of _____________________________________________ Engineer | 225 |
4. James Mangan of _________________________________________________ | |
in the County of _____________________________________________ Travel Agent | 55 |
5. Paul Roche of _________________________________________________ | |
in the County of _____________________________________________ Farmer | 10 |
6. Kevin O'Sullivan of _________________________________________________ | |
in the County of _____________________________________________ Architect | 30 |
7. Teresa O'Connor of ________________________________________________ | |
in the County of _____________________________________________ Housewife | 15 |
Total Shares taken | 715 |
Dated the _______ day of ____________, 19 _______
Witness to the above signatures:
Name:
Address:
THIRD SCHEDULE
Repeals
PART I
Provisions of the Companies Act, 1963 | Extent of repeal |
Section 2(1) (General provision as to interpretation) ________________________ | Definitions of “statutory meeting” and “statutory report”. |
Section 19 (Conclusiveness of certificate of incorporation) ________________________ | Entire section. |
Section 48 (Restriction on alteration of terms mentioned in prospectus or statement in lieu of prospectus)________________________ | Entire section. |
Section 63 (Power to issue shares at a discount) | Entire section. |
Section 130 (Statutory meeting and statutory report) _______________________________ | Entire section. |
Section 149 (Contents and form of accounts; computation and treatment of profits and losses) ________________________ | Subsection (6). |
Section 213 (Circumstances in which a company may be wound up by the court) __________ | Paragraph (b). |
Section 215 (Provisions as to applications for winding up) ________________________ | Paragraph (b). |
Section 216 (Powers of court on hearing petition) ________________________ | Subsection (2). |
First Schedule, Table A, Part I ____________ | In regulation 11 the words “, and the company shall also have a first and paramount lien on all shares (other than fully paid shares) standing registered in the name of a single person for all moneys immediately payable by him or his estate to the company.”. |
First Schedule, Tábla A, Part I ____________ | In regulation 11 the words “, agus beidh túslian ceannasach ag an gcuideachta freisin ar gach scair (seachas scaireanna láníoctha) a bheidh cláraithe in ainm duine aonair le haghaidh an airgid uile is iníoctha láithreach aige féin, nó ag a eastát, leis an gcuideachta”. |
First Schedule, Table D __________________ | Part II. |
PART II
Provisions of the Companies (Amendment) Act, 1982 | Extent of repeal. |
Section 3 (Particulars to be delivered with memorandum) ______________________ | Subsection (6). |