Companies Act 2014 section 1246

Status of existing unlimited company

Section 1246 deals with the transition of unlimited companies that were already in existence before the Companies Act 2014 commenced, re-categorising them under the new company type designations introduced by the Act.

• An "existing unlimited company" is any unlimited company (private or public, with or without share capital) incorporated under previous companies legislation and still in existence when this section commenced
• Upon commencement, existing private unlimited companies with share capital become ULCs, public unlimited companies with share capital become PUCs, and public unlimited companies without share capital become PULCs
• Transitional naming rules allow these companies a limited period to omit "unlimited company" or "cuideachta neamhtheoranta" from their name, after which the designation is automatically added
• Any reference in the Act to a company's date of registration is read as the date it was originally registered under the earlier legislation, such as the Joint Stock Companies Act 1862 or the Companies (Consolidation) Act 1908

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