Businesses have faced many challenges as a result of the COVID-19 pandemic – including in the area of company law. Previously simple procedures, such as organising meetings or executing deeds that are necessary for the implementation of share schemes, have become major legal and logistical issues.
That’s why IPSA welcomes the clarification on these and other issues provided by the Companies (Miscellaneous Provisions) Act 2020. This impact of this legislation will be to immediately alleviate some of the practical difficulties that companies are facing and, ultimately, help protect viable businesses and supporting economic recovery.
IPSA Council member Keavy Ryan, a partner with A&L Goodbody, said: “The provisions of this Act provide real solutions for company law issues. In particular, the new facility for virtual or hybrid meetings and the clarity provided on execution of deeds is a timely enhancement of flexibility for Irish companies.”