Extension of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020
As highlighted in an earlier blog, the interim period of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 (the “Act”) was due to expire at the end of this month on 30 April 2022. However, just this morning the Act has been further extended to 31 December 2022 following Government approval this week. The Act 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.
The Act, during the interim period, permits actions such as-
- Documents executed under seal may be executed in counterpart
- General meetings may be conducted wholly or partly by electronic means
- The period of protection from creditors in examinership remains at 150 days
- The winding up debt threshold at which a company us deemed unable to pay its debts remains at €50,000
- Creditors’ meetings may be conducted wholly or partly by electronic means.
