The Government has approved the publication of the Companies (Corporate Enforcement Authority) Bill 2021.
This marks the next step in the process towards the establishment of the Office of the Director of Corporate Enforcement (ODCE) as a separate statutory agency, as opposed to its current status as an office within the Department of Enterprise, Trade and Employment. The new agency will be called the Corporate Enforcement Authority.
The new statutory agency will have new investigative and enforcement powers and functions. These will include powers and functions designed to assist the Authority encourage compliance with the Companies Act 2014, to investigate suspected offences or non-compliance with the 2014 Act, and in the prosecution of summary offences under the 2014 Act. Greater resources will also be allocated to the new Authority.
Alongside those changes, the Bill will also address some practical anomalies arising in the Companies Act 2014, on foot of recommendations from a report of the Company Law Review Group in 2017.
It is expected that the Bill will be published in September.
For further information, please contact David Phelan, Head of Commercial and Business at firstname.lastname@example.org.Back to Full News
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About the Author
David is Head of the Commercial & Business team at Hayes solicitors and advises a number of the firm’s major corporate clients. He advises on a wide range of corporate and commercial law issues. He has expertise in advising on general corporate and commercial matters, particularly in the manufacturing, retail, aviation, sports and motor sectors, and also frequently advises clients who operate in regulated areas.