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Company Registration

Dáil Éireann Debate, Tuesday - 23 November 2021

Tuesday, 23 November 2021

Questions (178)

Cormac Devlin

Question:

178. Deputy Cormac Devlin asked the Tánaiste and Minister for Enterprise, Trade and Employment if he will consider requesting the Companies Registration Office to relax administrative deadlines for submission of filings and documents to the arrangements previously introduced during earlier stages of the Covid-19 pandemic in view of the revised public health guidelines regarding working from home; and if he will make a statement on the matter. [57368/21]

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Written answers

While my Department is in ongoing communication with the Registrar of Companies, it is important to acknowledge that the Registrar is a statutory role and that the Registrar has administrative independence in the exercise of her statutory functions.

The Registrar has shown considerable flexibility throughout the COVID-19 period in relation to the arrangements for filing annual returns, in recognition of the additional challenges facing companies as well as their professional advisers in meeting filing obligations. These include extending the filing deadlines in respect of annual returns due during 2020 and also earlier this year at the end of February and May, and suspending prosecutions and involuntary strike-offs for failure to file annual returns.

Notably, the exceptional arrangements that were put in place by the Registrar previously were in light of the circumstances prevailing at points in time where many companies were obliged to pause activity. It is the case that the level of business activity has substantially increased since then. The necessity of having a transparent and up-to-date companies register continues, notwithstanding the challenges being experienced by a small number of accountancy firms. There are over 250,000 companies on the register of which approximately 25% have an annual return filing deadline of the 25th of November. The filing of annual returns by this cohort is continuing, reaching some 1,900 per day as of last week. The CRO has implemented a queueing system on its IT system to manage the expected heavy volumes of filing between now and the deadline.

In light of the continuing COVID-19 situation, I understand the Registrar has been requested to approach the filing on a case-by-case basis taking into account the particular circumstances of the accountancy firm. There is limited discretion however, as the Registrar cannot apply flexibility on a case-by-case basis, so when an extension to a deadline is put in place, it applies broadly.

The Registrar is mindful of the particular problems being raised by some small accountancy firms, as well as the limitations placed on her by the Companies Act in taking a case by case approach. The Registrar has consulted with stakeholders to canvass their views on the matter, and they were broadly supportive of the need for a short extension to the filing deadline. I am informed that the Registrar has made the decision to extend Thursday’s filing deadline for a period of two weeks in order to facilitate those firms who have found themselves in serious difficulties. I am also advised that this short extension to the filing deadline will not unduly impact on the proposed update of the CRO’s IT system which will introduce enhancements.

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