Companies Act 2014 section 16

Extension of transition period in the event of difficulties

Section 16 gives the Minister the power to extend the transition period by order where difficulties arise in applying provisions of the Act, so that affected or interested parties have additional time to carry out necessary procedures.

• The Minister may extend the transition period if difficulties arise in the operation of the Act that require more time for affected parties to complete necessary actions or procedures.
• The extended period must not exceed 30 months in total.
• Before making an extension order, the Minister must lay a draft of the order before each House of the Oireachtas.
• The order can only be finalised once both Houses of the Oireachtas have passed a resolution approving the draft.