Companies Act 2014 section 280F

Qualification of company as medium company: general

Section 280F sets out the size thresholds and conditions that determine whether a company qualifies as a medium-sized company, including the categories of company that are excluded from this classification.

• A company qualifies as medium-sized if it meets at least two of three size tests: turnover not exceeding €50 million, balance sheet total not exceeding €50 million, and average employees not exceeding 250.
• For the first financial year, the company need only satisfy the conditions in that year; for subsequent years, the conditions generally must be met across two consecutive years, with transitional relief where the company already held medium status in the prior year.
• Holding companies, ineligible companies, and companies that already qualify under the small or micro companies regime are all excluded from medium company classification.
• Where a financial year is shorter or longer than 12 months, the turnover threshold must be proportionally adjusted to reflect the actual length of the period.