Charities in Ireland should be aware of recent Regulation Update. News from our company formations partner Company Bureau.
Increased charity regulations in Ireland have been introduced. It is now more important than ever for companies with charitable status to stay up to date with new obligations and ensure they are compliant. The following three regulations should be met as soon as possible:
- Charities Governance Code – In 2021 all Irish charities will be required to certify with the CRA by showing they have been compliant with the Charities Governance Code during 2020.
- Governing Documents – All existing Irish companies must ensure their governing document (Memorandum & Articles of Association) now refer to the Companies Act 2014 (in place of the old Companies Act 1963-2013 that has been obsolete since June 2015).
- Central Register of Beneficial Ownership – This has caused some confusion, as charitable companies do not have shareholders, but Charitable companies are required to identify and file information on the relevant individuals who are the beneficial owners.