Companies Act 2014 section 1391

Investment company to carry on activity in the State

Section 1391 requires that an investment company must demonstrate it will carry on an activity within the State before it can be formed and registered.

• An investment company cannot be formed and registered unless the Registrar is satisfied the company will carry on an activity in the State.
• The activity the company intends to carry on must be one that is specified in its memorandum of association.
• This requirement mirrors the equivalent rule for public limited companies under section 1005 of the Act.
• The provision originated in section 42 of the Companies (Amendment) (No. 2) Act 1999 and is restated here specifically for investment companies.