Companies Act 2014 section 1189

Status of existing guarantee company

Section 1189 deals with the status of guarantee companies that were already in existence before the Companies Act 2014 came into effect, confirming their continuation as companies limited by guarantee (CLGs) under the new legislation.

• An "existing guarantee company" is one limited by guarantee without a share capital, incorporated under earlier companies legislation and in existence before this section commenced
• Such companies automatically continue in existence and are treated as CLGs governed by Part 18 of the Act
• Transitional naming rules allow continued use of "limited" or "teoranta" for a fixed period, after which the name is automatically changed to include "company limited by guarantee" or its Irish equivalent
• Any reference in the Act to the date of registration of such a company is to be read as the date it was originally registered under earlier legislation such as the Joint Stock Companies Act 1862 or the Companies (Consolidation) Act 1908