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Company Law

Dáil Éireann Debate, Thursday - 5 May 2022

Thursday, 5 May 2022

Questions (97)

Patrick Costello

Question:

97. Deputy Patrick Costello asked the Tánaiste and Minister for Enterprise, Trade and Employment if he will seek the extension of the derogation originally introduced during the pandemic allowing AGMs/EGMs of Owner Management Companies (OMCs) to be held online given the increased requirements for ongoing meetings of Owner Management Companies (OMCs) to facilitate higher levels of engagements between directors and owners; and if he will make a statement on the matter. [22458/22]

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Written answers (Question to Enterprise)

The Companies (Miscellaneous Provisions) (Covid-19) Act 2020 makes temporary amendments to the Companies Act 2014 and the Industrial and Provident Societies Act 1893 to address issues arising as a result of Covid-19.

I am pleased to confirm to the Deputy that the temporary provisions of the Act have been further extended to 31 December 2022 following Government approval on 26 April 2022. This means that, as well as making provision in respect of business solvency, 240,000 companies (including Owner Management Companies) and 950 industrial and provident societies in Ireland can continue to hold their Annual General Meetings (AGMs) and general meetings by electronic means.

The widespread use of virtual AGMs and general meetings in response to Covid-19 has provided new opportunities for shareholder engagement. Thus, while this is likely to be the final extension of these particular measures, my officials are working to put virtual meetings on a permanent statutory footing.

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