Irish Region
Blog
Covid: Extension of Interim Period under Companies Act 2014 and Industrial and Provident Societies Act 1893
The interim period introduced by the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 has been extended until 9th June 2021. The interim period is the period during which temporary amendments apply to the Companies Act 2014 and Industrial and Provident Societies Acts 1893 to 2018 to address issues arising as a result of Covid-19. What does this mean:-
- Companies can continue to hold meetings virtually
- Documents which are required to be executed under seal can continue to be executed in counterpart
- Threshold at which a company is deemed unable to pay its debts will remain at the increased level of €50,000
- The examinership process may be extended to 150 days (subject approval of the Court)
It’s important to note, that this extension of the Interim Period does not apply to 2020 annual general meetings, which were to be held by 31 December 2020.
