Vol. 496 No. 6
101 Mr. Gormley asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of companies, including companies dissolved, authorised by her Department to benefit from the terms of section 24 of the Companies Act, 1963; and if she will make a statement on the matter. [23587/98]
Section 24 of the Companies Act, 1963, gives power to the Minister for Enterprise, Trade and Employment, to allow companies to be registered without the addition of the word "Limited" or "Teoranta" to its name. The approval of the Minister is granted in the form of a licence.
Before deciding to grant such a licence, the Minister must be satisfied that the company or proposed company was formed or is being formed for the purpose of promoting commerce, art, science, religion, charity or any other useful object, that it intends to apply its income or profits, if any, in promoting its objects and that it intends to prohibit the payment of any dividend to its members. Such companies are normally formed as guaranteed companies without a share capital.
An examination of such companies on the Companies Office register indicated that there are 636 companies, including about 82 dissolved companies registered without the word "Limited" or "Teoranta".
