Companies Act 2014 section 1122A

Application of Chapter 7 of Part 11 to PLCs

Section 1122A explains how certain provisions governing public limited companies (PLCs) under Chapter 7 of Part 11 of the Companies Act 2014 are modified to give effect to EU bank recovery and resolution directives.

  • The section applies EU Bank Recovery and Resolution Directive (2014/59/EU) requirements to PLCs under Irish company law
  • The original directive has been amended twice — by Directive 2017/2399 and Directive 2019/879 — and all amendments are given effect
  • Certain provisions of Chapter 7 of Part 11 of the Companies Act 2014, which deal with PLCs, are modified to comply with these EU requirements
  • The specific modifications applicable to PLCs are set out in Chapter 1A of Part 25 of the Companies Act 2014

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